European Commission Backs Subsidy For Hinkley Nuclear Plan

‘The European Commission yesterday gave Britain the green light for a huge government subsidy that will open the way for the first atomic power stations to be built for more than nearly 20 years. EDF believes the project will cost £16bn but the EC claimed construction costs alone by the time the plant is built in 2023 will be more than £24bn with a further possible £10bn of contingency payments. Five of the 21 commissioners voted against the deal, arguing that, as a mature technology, nuclear should not be subsidised. Austria will launch an 18-month long appeal to the Court of European Justice against the deal, saying it opposes the decision on economic and environmental grounds and was not an option for combatting climate change. The Austrian Chancellor, Werner Fayman, said Hinkley set a “bad precedent” because guaranteed payments had previously been reserved for renewable forms of energy such as wind and solar. (So, whilst the news is not good, there is a long way to go before Hinkley gets built,[if ever. —Ed.]

From The Guardian & The Times 9th October 2014