In response to Greg Hands announcing that the government would pursue a Regulated Asset Base (RAB) funding mechanism for new nuclear reactors, Dr Doug Parr, Chief Scientist for Greenpeace UK, said –
"The funding model that EDF has been lobbying hard for to pay for their expensive nuclear power plants has already been tested in the USA. The results were disastrous. It transfers huge financial risk from the builders to bill payers. In South Carolina, 18% of residents’ energy bills went to pay for a half-built reactor which has been abandoned and will never produce electricity[1]. This government has not learnt the lesson that new nuclear power can’t deliver electricity on schedule or for an affordable price for consumers, and so its fascination with new nuclear will become a hindrance to climate action, not a help. The government should be focusing on expanding renewables power at greater speed and scale than their current ambition, with a smart grid, home insulation and storage capable of providing the UK with a clean, secure energy system without bankrupting bill-payers.”
ENDS
Contact
Greenpeace UK Press Office - press.uk@greenpeace.org or 07801 212 960
Notes
- https://www.worldnuclearreport.org/The-World-Nuclear-Industry-Status-Report-2018-HTML.html#fig28
- Please click here for a briefing on new nuclear in the UK.
