HINKLEY – A Deal Not Done

In spite of the UK government and EDF’s claims on Hinkley the deal is not done.

A few hurdles they will have to get over:

1. UK government guarantees of £18b depend on there being a EPR working design, currently the EPR at Flamanville is 3 times over budget and 6 years late. Added to which Le Creuset (who also make cooking pots) have a sideline making lids for Flamanville and they got the carbon content wrong making the lid brittle. This scored a fail from the French regulatory authorities so they have to start again. Another year or two delays…..

2. Austria and Luxembourg have taken UK government to EU court claiming unfair state subsidies for EDF and the China General Nuclear (CGN). The case should be heard by the end of 2017. We wait on answers from the EU. Questions from Molly Scott Cato MEP are here http://mollymep.org.uk/wp-content/uploads/WQ-Follow-Up-State-Aid-Sept-16.pdf

3. French nuclear unions taking the CEO of EDF to court for not revealing that the UK government had put the project on hold the day before EDF decided to go ahead without telling the other members of the EDF board.

4. China General Nuclear Power (CGN) and China National Nuclear Corp (CNNC) are not only EDF’s partners in Hinkley but they also want to build a new Chinese design nuclear power station at Bradwell, Essex. However CNNC also have a sideline making nuclear weapons for the Chinese Army and are alleged to have passed nuclear weapons technology to Pakistan and Iran. They are also accused of industrial spying by the US government. https://www.theguardian.com/uk-news/2016/aug/11/hinkley-point-c-case-against-cgn-has-the-feel-of-a-modern-spy-thriller

Maybe not the obvious company to be subsidising at twice the current price of electricity for the next 35 years and giving control of our smart meters in a few years time !

5. EDF has a debt of around E34b, taking on Hinkley has already resulted in their credit rating dropping so interest payments going up. EDF also own the equally shaky Areva. These are not stable or responsible partners.

For a more detailed view from Stop Hinkley Campaign check http://stophinkley.org/StopPress.htm

Leave a Reply

Your email address will not be published. Required fields are marked *