UK Nuclear Power: Hinkley Point C will 'hit the poorest hardest', say MPs - Sensationalist Headlines

[QUOTE]A group of MPs has said that the £18bn cost of the UK's new Hinkley Point C nuclear power station will hit the country's poorest the hardest. The Public Accounts Committee said that households had been "locked into an expensive deal lasting 35 years". In a report, it said there were no plans for Hinkley Point to provide wider benefits such as jobs and skills. But EDF, the French firm funding two thirds of the project, said it would bring "huge benefits" to Britain. The government gave the green light to Hinkley Point near Bridgwater in Somerset last year, in a deal which guarantees EDF a fixed price of £92.50 per megawatt hour for the electricity it produces for 35 years. If it falls below that level, consumers will pay the difference. The Department for Business, Energy and Industrial Strategy estimates that top-up payments will cost consumers around £30bn. In its report examining the deal, the Public Accounts Committee said: "Over the life of the contract, consumers are left footing the bill and the poorest consumers will be hit hardest. Yet in all the negotiations no part of government was really championing the consumer interest." The committee's chair Meg Hillier said: "Bill-payers have been dealt a bad hand by the government in its approach to this project. [/QUOTE] [url]http://www.bbc.co.uk/news/business-42065837[/url]

The government at the moment like to fuck the poorest hardest on everything sadly

[quote]The government gave the green light to Hinkley Point near Bridgwater in Somerset last year, in a deal which guarantees EDF a fixed price of £92.50 per megawatt hour for the electricity it produces for 35 years. [/quote] What the fuck? [img]https://i.imgur.com/i51cEyN.png[/img]

[QUOTE=nikomo;52921451]What the fuck? [img]https://i.imgur.com/i51cEyN.png[/img][/QUOTE] Subsidies for carbon free energy is pretty common. Offshore wind in the UK for example gets £114.39-£119.89/MWh in 2012 indexed to inflation. Other renewable get similar subsidies though slightly cheaper than Hinkley Point's subsidy.

[QUOTE=download;52921507]Subsidies for carbon free energy is pretty common. Offshore wind in the UK for example gets £114.39-£119.89/MWh in 2012 indexed to inflation. Other renewable get similar subsidies though slightly cheaper than Hinkley Point's subsidy.[/QUOTE] Except every year wind is seeing a massive reduction in "strike prices". Contracts have been handed out for £74.75 / MWh for an off-shore wind farm due to come online in 2021, and two off-shore wind farms in 2022/23 at £57.50 / MWh. The costs are expected to keep falling. [url]https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/643560/CFD_allocation_round_2_outcome_FINAL.pdf[/url] Hinkley Point C won't start producing power until the late 2020s. I could understand doing this if we was using it to build up our ability to create more, and cheaper nuclear power plants ourselves. But this is run entirely by the French and Chinese.

[QUOTE=Morgen;52921522]Except every year wind is seeing a massive reduction in "strike prices". Contracts have been handed out for £74.75 / MWh for an off-shore wind farm due to come online in 2021, and two off-shore wind farms in 2022/23 at £57.50 / MWh. The costs are expected to keep falling. [url]https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/643560/CFD_allocation_round_2_outcome_FINAL.pdf[/url] Hinkley Point C won't start producing power until the late 2020s. I could understand doing this if we was using it to build up our ability to create more, and cheaper nuclear power plants ourselves. But this is run entirely by the French and Chinese.[/QUOTE] Wind farms get a price indexed to inflation from when they are built. There are already wind farms out there getting that much and will receive that much over their lifetime.

[QUOTE=download;52922942]Wind farms get a price indexed to inflation from when they are built. There are already wind farms out there getting that much and will receive that much over their lifetime.[/QUOTE] Hinkley Point C will have its strike price adjusted with inflation as well, even before it's built. It could be up to £100 / MWh by the time it actually produces any power. Plus these wind farms produce much less power than Hinkley, so they have less of an impact on consumer pricing.

[QUOTE=nikomo;52921451]What the fuck? [img]https://i.imgur.com/i51cEyN.png[/img][/QUOTE] Our government is utterly incompetent.