Multi billion pound Anglesey nuclear plant could still happen and your electricity bills could end up paying for it. Securing a new nuclear plant on Anglesey is the only way for the UK to meet its 2050 net zero emissions target, it has been claimed, amid a push for a new funding model to kick start the project. The multi billion pound Wylfa Newydd project was suspended 12 months ago after Hitachi failed to reach a funding deal with the UK government – to the relief of anti-nuclear campaigners but to the dismay of others, with the economic hopes of many having been pinned to the development. Addressing the Commons on Wednesday, the under-secretary of state for industry confirmed that a new energy White Paper should be published within weeks, adding that ministers had worked “extremely hard” during negotiations with developers Hitachi and that the Government had been ready to contribute “significant investment” while being mindful of a need to represent value for money. Nadhim Zahawi said, “The Wylfa site remains a potential location for new nuclear development, and Hitachi has stated that it is keen to discuss future options for the site with us, based on alternative funding models.” It has long been expected that the upcoming white paper will propose a new financing model for nuclear power, including electricity customers paying for part of such schemes’ costs upfront via their bills. The model, known as RAB (Regulated Asset Base), allows investors to receive returns before the projects have been completed. But in what had hoped would be a kick-starter to restarting the project, October 2019 was expected to see the UK Government grant the necessary planning permission for the technology. In a surprise move, however, energy secretary Andrea Leadsom announced that she was kicking a decision to the long grass until more information was made available, asking for more information on environmental and other impacts on Anglesey. Island MP Virginia Crosbie, who had secured the adjournment debate on the future of the nuclear industry, described Wylfa as “hands down the best nuclear new build site in the UK.” “This project is the only way forward to ensure that we can meet our 2050 target on decarbonisation,” she told the Commons.
Daily Post 7th Feb 2020 read more »
Ynys Môn’s new Member of Parliament used her first major speech to highlight how the revival of Wylfa Newydd could “transform” the island’s economy. Riding the crest of a blue national wave, December’s General Election saw Ms Crosbie secure a majority of 1,968 as the island’s voters followed up on their decision to back leaving the EU in the 2016. In her maiden speech in Parliament, Ynys Môn’s first Conservative MP since 1987 used the opportunity to highlight the benefits of a new nuclear plant and its role in delivering carbon-free energy.
North Wales Chronicle 7th Feb 2020 read more »