No one wants to invest the billions for new nukes, despite the UK government agreeing to fix artificially high prices for electricity from nuclear power to be passed on in consumers’ bills.
German and Chinese firms have backed away from investing in Wylfa-B and French company EDF has huge financial problems.
EDF’s Thomas Piquemal has stood down from his post of finance director after expressing trenchant opposition to those on the EDF board who want to give the green light to the project.
The resignation of such an important figure on the EDF board will make it much harder for Hinkley to proceed.
The Financial Times says Piquemal deserves the thanks of UK energy consumers who could yet escape paying the excessive price of an unproven project.
The newspaper has already said the case against the nuclear power station is hard to refute.