Osborne Paying Double the Market Rate For Nuclear Energy

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Amber Rudd’s green crap purge continues today with the announcement by Osborne that the government will guarantee £2 billion of support for a new nuclear power station at Hinkley Point. Osborne hopes the multi-billion pound promise will tempt the Chinese backed French energy company EDF to build Britain’s first new nuclear plant in 20 years. It will also be, by some way, the most expensive…

As enjoyable as it is to watch the Greenpeace crowd lose it over Hinkley Point, serious questions are being asked about the financing of the deal. Osborne is guaranteeing £89.50 to EDF for every MW/hr of electricity they produce; the current price per MW/hr of wholesale electricity in the UK is £44. If only there was some sort of abundant, clean and cheap energy lying trapped underground in our shale formations…




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Quote of the Day

Charles Moore on the aid charity’s sex scandal…

“Oxfam was the Harvey Weinstein of aid – arrogant, bullying, conspicuous in its faults, yet utterly immune until the balance of fear mysteriously changed overnight.”

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