Welcome to the eco audit
Energy and climate change secretary Edward Davey has described agreement with Frenchand Chinese contractors to build the UK’s first nuclear power station since 1995 as an “excellent deal for Britain and British consumers”.
Davey and prime minister David Cameron said the Hinkley Point C station would provide energy security for Britain and form the foundation of cost-effective carbon reduction. Davey said:
For the first time, a nuclear power station in this country will be built without money from the British taxpayer. It will increase energy
security and resilience from a safe, reliable, home-grown source of electricity.”
In return for an expected investment of £16 billion, the UK Government has guaranteed French company EDF an energy price of £92.50 per megawatt hour. This ‘strike price’, forpower generated from 2023, is almost double current wholesale energy costs. But theDepartment of Energy and Climate Change (Decc) released a statement today which said new nuclear power stations could mean a £75 reduction in power bills by 2030.
Do the numbers add up? Today I will be speaking to energy policy experts and stakeholder groups and crunching the numbers on the UK biggest energy announcement in almost twodecades.
You too can help with the investigation. Please write your thoughts in the comments below, tweet me, or email me. If you are quoting figures or studies, please provide a link to the original source. Later I will return with my own verdict.