Hinkley Point C
The plant, which has a projected lifetime of 60 years, has an estimated construction cost of between £19.6 billion and £20.3 billion. The National Audit Office estimates the additional cost to consumers (above the estimated market price of electricity) under the “strike price” will be £50 billion, which “will continue to vary as the outlook for wholesale market prices shifts”. Financing of the project is still to be “finalised”, the construction costs will be paid for by the mainly FRENCH state-owned EDF and Chinese Communist state-owned China General Nuclear Power Group.
According to December 2017 estimates, Hinkley is being built for £20.3 billion by 2025, to be paid over a 35-year period. According to Dieter Helm, professor of Energy Policy at the University of Oxford, “Hinkley Point C would have been roughly half the cost if the government had been borrowing the money to build it at 2%, rather than EDF’s cost of capital, which was 9%.”
There are several problems that I can now detect.
We now hate the Chinese Communist State, so presumably we will have no further truck with them and not be taking their geld?
We have just upset the French, who are in charge of constructing the project and will be running for the next few decades.
I suspect the ramming through of this project in the Bristol Channel was partially about having Nuclear Power but also weapon grade stuff for our Trident missiles, so we can stay at the top table of nutters. I also suspect that the Nuclear Nutters did not want the barrage to go ahead?