The Nuclear Free Local Authorities (NFLA) has noted substantial media coverage from the nuclear industry after the general election extolling the need for the new UK Government to build both large and small new nuclear reactors. It is to be expected, as it is a well-financed, highly effective lobby and it is a sector in real crisis at the moment, so it has to be vocal on the ‘need’ for new nuclear. That crisis is obvious from the consultation undertaken before the election by the Government to consider the benefits of the Revenue Asset Base (RAB) model to provide an effective huge public subsidy to the nuclear sector. As Professor Steve Thomas’s expert report on Hinkley Point C and the financial problems of EDF shows, the French Government owned nuclear utility is struggling with the huge burden of financing this reactor, due to technical overruns at other similar reactors being built in Finland and France, as well as EDF’s other expensive liabilities.
NFLA 31st Jan 2020 read more »