You’ll pay double price for electricity to subsidise nuke shareholders

Share Price 2The UK government will force you to pay double the price for electricity from new nuclear plants than other, safer sources. The agreed price of £92.50 per MW/hour is over double the current wholesale price at just over £41 per MW/hour. The stitched up price from the threatened new nuke at Hinkley, Somerset will cost the energy bill payer up to £17.6bn in subsidies.

PAWB Press Release – 8.10.14

The decision not to block the UK governments threatened £92.50 per megawatt/hour guaranteed strike price over a 35 year period for the EDF Hinkley Point nuclear project by the European commission drew the following comment by Greenpeace EU legal adviser Andrea Carta:

“This is a world record sell-out to the nuclear industry at the expense of taxpayers and the environment. There is absolutely no legal, moral or environmental justification in turning taxes into guaranteed profits for a nuclear power company whose only legacy will be a pile of radioactive waste.”

Not only will we be hit in our taxes, but also by hefty hikes in our electricity bills to pay for Hinkley Point C and any other possible nuclear project. How on earth can the Secretary of State for Energy and Climate change, Ed Davey argue that this deal will reduce hosehold bills when the strike price agreed is over double the current wholesale price of electricty at just over £41 per megawatt/hour?

This is not the end of the story however, the Austrian Government supported by other parties intends to challenge the decision taken by EU Commissioners yesterday at the European Court of Justice. That process could take another year, so the possibility remains to stop the advance of this totally outdated, dirty, dangerous, and extortionately expensive technology.

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