Tim Yeo, Chairman, New Nuclear Watch Europe (NNWE)
“Today’s announcements, while welcome in many respects, do little to solve the immediate challenge facing new nuclear projects in the UK. Negotiating a competitively priced strike-price, which must come in under the much criticised Hinkley Point C deal, is a red line for consumers and government officials.
The easiest way to achieve this is for government to provide financial support, either through a direct equity stake or by way of loan, in future new build projects. Lowering the cost of capital for nuclear developers dramatically cuts the cost of electricity for the benefit of consumers. This will also give a strong signal that the UK is serious about reviving its nuclear energy industry and continuing to cut emissions.
Nevertheless we welcome the new National Policy Statement for nuclear sites over 1GW; this week’s confirmation that Kepco will now take the Moorside project forward; the funding for a future Advanced Nuclear Technology where the UK could be a world leader; and the broad scope of the Nuclear Sector Deal.
Attention must now turn to the small matter of agreeing what consumers will pay for the electricity produced.”
-Ends-
For more information, please contact:
Ed Gavaghan
E: press@newnuclerwatch.eu [1]
Notes to Editors:
Links:
[1] mailto:press@newnuclerwatch.eu
[2] http://www.newnuclearwatch.eu