Why nuclear is a bad deal for Britain – BBC Politics Today – 21 October 15



Nuclear is the cuckoo in the nest it squeezes the others out of the energy market.  The reason why we are doing what we are doing, making so many policy changes in energy efficiency and renewables, and eliminating billions of pounds of investment, is to make sure that there in enough space in the electricity market for nuclear. Otherwise you wouldn’t get anybody to invest in it.

The reason why the wholesale price of electricity in Germany is half what it is in Britain, is because Germany has a large amount of renewables and that drives down wholesale energy prices. The way you pay for Hinkley is if the wholesale electricity price goes down, the subsidy you have to pay goes up. That’s an extraordinarily bad deal.

Offshore wind costs are coming down, nuclear costs are going up.

About tomburke

Tom Burke is the Chairman of E3G, Third Generation Environmentalism, and an Environmental Policy Adviser (part time) to Rio Tinto plc. He is a Visiting Professor at both Imperial and University Colleges, London. He is a member of the External Review Committee of Shell and the Sustainable Sourcing Advisory Board of Unilever and a Trustee of the Black-E Community Arts Project, Liverpool.
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