22.02.15 Nuclear reactor put on hold

Posted on February 22, 2015
Archive : February 2015
Category : Energy News

At least until after the general election say French state-backed EDF. It's the latest twist in the continuing saga of the £24 billion Hinkley Point twin-reactors in Somerset which could be potentially funded by China General Nuclear Power Corp, China National Nuclear Corp, French company Areva, Saudi Electric, as well as a number of pension funds. The UK government will underwrite the project by guaranteeing £92.50 per megawatt hour for 35 years, which is twice the current going rate and at a time of falling fuel prices. As far as I'm concerned delay it as long as you want and while you're at it, see if you can get the Russians to chip in a few quid too.

Source: The Daily Telegraph

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