Antinuclear

The UK Election: A Different Kind of Nuclear Bomb

Our current experience with building large French nuclear power stations is no

Tom Burke on how an incoming Labour Government will have to deal with the unexploded political bomb of nuclear left behind by the Conservatives

BYLINE SUPPLEMENT, JUN 26, 2024,  
You know something is changing in British politics when our better-known political commentators start turning up at Green Party events. They have not found it easy to make much sense of what such a heterodox coalition offers voters. But there is no doubting that their presence signals an old order in transition………………………………………………………………….

The Nuclear Legacy

The Government has accidentally left behind an unexploded bomb for an incoming Labour Government. Should it go off, it will be early evidence for the argument that Starmer can’t be trusted. The bomb in question is whether or not to go ahead with building another large French nuclear power station at Sizewell in Suffolk.

Our current experience with building large French nuclear power stations is not encouraging. Although, unusually, we are not alone in this respect. No-one else, including the French themselves, has been able to do so either. Indeed, France has now decided not to even try to build any more of the type of reactors intended for Sizewell as they are too expensive and difficult to build. They will build a different design instead.

The French reactor we are currently building at Hinkley Point was promised to cost £5.6 billion in 2008 and be producing the electricity to cook turkeys on by 2017. In today’s money it will cost nearer to £46 billion and not be producing electricity before 2030. To get EDF to invest, the then Labour Government promised EDF an index linked price for its electricity.

This means that, were it available now, electricity from Hinkley Point would cost £130/MWh. Since National Grid will sell you electricity today for about £80/MWh why would anyone buy more expensive nuclear electricity? To get EDF to build Hinkley Point a Conservative Government bought 35 years’ worth of electricity in advance at a fixed price. To pay for the difference between what EDF can get from the wholesale market  there will be tax on everyone’s electricity bill.

It is beyond my understanding why any sane person would want to repeat this experience. Yet that is just what the Conservative Government, with Labour support, was planning to do. It is often argued that building a second station using the same reactors will be cheaper. If that were so, someone needs to explain why the French have already decided not to build any more. Is there something they know that we don’t?

Labour now face a particular difficulty on Sizewell. Since their wind-back of the green prosperity plan, they have doubled down on their promise to deliver carbon-free electricity by 2030. So let us, for argument’s sake, put aside any reservation about whether this is practical. We, and our children, will all certainly be better off if they can deliver carbon-free, secure and affordable electricity to consumers by 2030.

But construction of Sizewell cannot start until after 2030. What then, is the case for forcing homeowners and businesses to pay a tax on their energy bills to finance an unnecessary nuclear power station? And what would this do to the scale and speed of investment in the energy efficiency and renewables which are cheaper and faster ways to get both bills and carbon emissions down? ,  https://www.bylinesupplement.com/p/post-election-a-different-kind-of

June 27, 2024 - Posted by Christina Macpherson | Uncategorized