Credit: Wikimedia
Britain has put its new Hinkley Point nuclear power plant1 on hold. Vested interests are vocal,2,3 but nuclear prices continue to rise, (never on time, never on budget) – while renewables keep getting cheaper.
UK Tories wake up to nuclear folly, as wind & solar found to be cheapest
http://reneweconomy.com.au/2016/uk-tories-wake-up-to-nuclear-folly-as-wind-and-solar-found-to-be-cheapest-92800
Hinkley C’s future is in doubt. Let's turn our sights to offshore wind
https://www.theguardian.com/environment/2016/aug/14/hinkley-cs-future-is-in-doubt-lets-turn-our-sights-to-offshore-wind
Scrapping Hinkley for renewable alternatives would save ‘tens of billions’
https://www.theguardian.com/environment/2016/apr/05/scrapping-hinkley-for-renewable-alternatives-will-save-tens-of-billions
__________
1 Wikipedia: “Hinkley Point C nuclear power station”, https://en.wikipedia.org/wiki/Hinkley_Point_C_nuclear_power_station
2 The Independent: “Hinkley Point: Government’s decision to put contract on hold is bewildering, unions say”, http://www.independent.co.uk/news/uk/home-news/hinkley-point-c-nuclear-power-government-s-decision-to-put-contract-on-hold-is-bewildering-unions-a7162976.html
3 The Guardian: “Hinkley Point: China warns UK not to drive away investors”, https://www.theguardian.com/uk-news/2016/aug/01/china-warns-uk-over-suspicious-approach-to-hinkley-point-deal / UK Tories Conservatives Conservative Party nuclear folly wind solar cheapest decision UK’s Tory government hold approval world’s biggest single energy investment Hinkley C nuclear plant concerns potential role Chinese state companies realisation new nuclear horrendously expensive boondoggle cost wind solar falling cost of nuclear little surprise anyone involved energy markets nuclear industry supporters news new data previously unheralded National Audit Office report United Kingdon Great Britain England government cost wind solar half new nuclear 2025 nuclear renewable technologies more expensive nuclear cost Hinkley built expects renewables cheaper option Hinkley Point nuclear project blown out costs relies significant government guarantees subsidies tariff pay built tariff rises with inflation 35-year contract more than double price 2050 cost wind solar fall energy department forecasts levelised cost electricity wind solar decreased since 2010 cost forecast for gas has not changed nuclear has increased detailed energy department findings assessment important Australia facing major decisions generation fleet next decade UK has decided end coal-fired generation last two months amount solar production beaten coal production smitten new nuclear evident folly project blown out in cost falling price wholesale electricity lifetime subsidy Bridget Woodman University of Exeter accommodating Hinkley UK government redesign electricity market every major policy design Hinkley Point C government stepped back from the brink UK government head National Grid called for a complete rethink about the nature of energy systems idea of baseload power is already outdated from a consumer’s point of view baseload solar on rooftop heat pump baseload electrons free at the margin industry based on meeting demand extraordinary amount of capital tied up unusual set of circumstances ensure supply at any moment turned on its head experts David Elmes head Warwick Business School Global Energy Research Network megaprojects solution new mix between smaller and larger considering consumption as well as supply more decentralised central industries companies institutions government departments important implications for Australia, whose official energy blue-print, apart from ignoring climate change fascination nuclear energy large centralised power plants coal generators push-back decentralised energy emerging cheaper cleaner alternative current business models extend life assets conservative politicians smaller distributed energy smartest way forward solar Australia cheapest technology storage smart technology alternative centralised gold-plated networks account half consumer electricity bills recent price surge gas concentration of market power transferred this cost wholesale electricity prices South Australia distributed energy increasingly attractive option competition South Australia at the forefront Australia proposes to move forward dabbled nuclear power suffered forces powerful oligopoly consumers are being burnt by retailers long-term vision for the future trap of power system security euphemism for the status quo meeting of state and federal energy ministers /
