The Financial Swindle

It turns out that the UK public is underwriting 10 billion pounds of the construction cost for Hinkley C. This will create a nuclear disaster of a different sort. A Nuclear Financial Disaster, NFD!

I have mentioned that we don’t need Hinkley C or any other new nuclear power plant.

Video interview #2: The Financial Swindle

Here is another interview video interview with Theo Simon.

The government will pay a bribe to Somerset County and West Somerset councils to help the Hinkley C project. The deal, totaling £128m, will last for 40 years, which is the planned lifetime of Hinkley Point C. This cost is in addition to the build price and the costs of waste disposal(a totally unknown amount).

Selling our future for too high a price is a financial swindle

The High price for Hinkley C power is a financial disaster. Today, electricity sells on the wholesale market for about £45 per megawatt-hour (MwH). But anything under £90 a MwH would see Hinkley lose money. On the other hand, go over £100 and by 2020, when Hinkley would still not be operating, wind energy would be cheaper.

Caroline Lucas, the Green Party MP for Brighton Pavilion, said: “When City analysts tell you a contract is ‘economically insane’, it’s time to admit that you might have got it wrong. The analysis doesn’t even take into account the fact that they are only expected to meet a ‘share’ of the costs of dealing with the toxic waste created by their generators, with the public facing another bill for clean-up costs in future.”

So we the people will pay twice the going rate for electricity. We will have to forgo the construction of better cleaner and cheaper options like wind. And we will have a thousand years of radioactive nuclear waste to keep safe. We don’t even know the cost for that.

Time to Write your MP.

Time to write your Congressman, or Senator.

Time to write to your representatives within the National People’s Congress.

Check out the next video interview.