The projected cost of new nuclear power has risen by fourfold since 2008 – and it is still rising
The projected cost of new nuclear power has risen by almost fourfold since
the UK Government made estimates in 2008, and the cost is still rising.
Nuclear analysts warn that the cost to consumers of funding Sizewell C
through the so-called ‘Regulatory Asset Base’ (RAB) model will be much
higher than has been projected by the Government.
In 2008 as the Government argued for more nuclear power stations to be built, the Government, in a
White Paper on nuclear costs, said that each 1.6 GWe EPR reactor would cost
around 2.8 billion. But the most recently released (by EDF) cost of the
Hinkley C EPR double reactor is £25.5 billion (in 2015 prices) and assumes
the plant will be completed by 2027.
This equates to £12.75 billion per
each 1.6 GWe reactor, as reported by World Nuclear News. This is nearly
four times the estimate made by the UK Government in 2008 after inflation
is taken into account.
100% Renewables 25th Nov 2022
The COP27 promise to fund climate help for poor countries – will it really be kept?
Gordon Brown: Rich nations have promised to pay for the climate crisis –
but will they? The breakthrough brought back memories of another, the
£100bn a year agreed at the 2009 Copenhagen climate summit to help poor
countries mitigate the effects of the climate crisis.
That money has never fully materialised. If our 13 years’ experience of the £100bn fund that
never was is anything to go by, eulogies of praise will soon turn into
allegations of betrayal.
The president of next year’s Cop28 will have to
answer for yet another fund without funders. Far from the loss and damage
fund narrowing the credibility gap on climate action, it is likely to
bridge nothing if money fails to flow from rich to poor.
Guardian 26th Nov 2022
https://www.theguardian.com/commentisfree/2022/nov/26/rich-nations-climate-crisis-cop28-gordon-brown
Antinuclear 