Questions over nuclear plant

ScottishPower boss says Hinkley ‘too expensive’

Hinkley power stationScottishPower chief Keith Anderson has called for the proposed £18 billion Hinkley Point nuclear power plant to be renegotiated.

Mr Anderson, chief corporate officer, says it is “too expensive”. In an interview today Mr Anderson argues that since it was provisionally agreed by the government three years ago the price of alternative fuel sources has fallen.

“It looks like a contract that was written five years ago on a business case that was probably pulled together 10 years ago. It looks out of line with what’s going on in the market now,” he told The Sunday Telegraph. 

He supported Prime Minister Theresa May’s decision to review the project and said she look at issues beyond her concerns over  Chinese state involvement.

The deal proposes that EDF receives a guaranteed a price of £92.50 for each megawatt-hour (MWh) of electricity it generated for 35 years.

Mr Anderson joins others in the industry in saying this now looks expensive. He said gas and offshore wind offered faster, easier and cheaper ways of keeping the lights on.

“I can’t understand why anybody feels we need to sign a contract of that size and over that time period, at that price,” he said.

ScottishPower is seeking government support to develop both offshore wind and gas-fired power stations.

A decision from the Government is expected in the next few weeks.

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