Hinkley’s Welcome Pause

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Gaia has been sceptical of the case for Hinkley Point C on the grounds of cost, the history of over-runs and the manifest problems with these type of EPR reactors. The guaranteed price of the energy and the subsidy required seem a high price to pay – even considering the strategic importance of have diversity in energy supply. So the government’s decision to reconsider the deal is not unwelcome.

There are also legitimate security concerns about giving China a stake in Britain’s energy supply – concerns that George Osborne ignored. That there was a political consensus – the deal has antecedents going back to the last Labour government – does not mean it was well judged. There were terrible deals done under PFI which were unopposed by the Tories at the time. This is the biggest public-private partnership in history, a pause to check the small print and that the sums add up given the history of financial shambles under Brown and Osborne seems prudent.

See also Hinkley Point C

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