Government and EDF Energy finally agree rate of £92.50 per megawatt-hour. The agreed rate is more than double the going rate for wholesale electricity, meaning the energy generated from the new plant will be extremely expensive compared to other nuclear power plants. The new Hinkley nuclear reactor in Somerset will be built, and should be operational within 10 years.
With EDF Energy still in talks with the government about building new nuclear plants, are we at real risk of running out of electricity? Britain could have a new ‘fleet’ of nuclear power plants by 2030, if all goes well, but the first of the 18 projects is under threat. EDF is negotiating hard with the government about the subsidy … Read More