Hinkley alternatives ‘cheaper, quicker and simpler’
Investing in offshore wind, interconnectors with other countries and energy efficiency would save the UK around £1 bn, maintain energy security and meet climate targets, removing the need to build Hinkley Point C, experts say.
The £18 bn nuclear power plant is currently under review by the government. Analysis by the Energy and Climate Intelligence Unit (ECIU) considered how the UK could meet the so-called ‘energy trilemma’ of maintaining supply, cutting greenhouse-gas emissions and keeping costs down if the government decided not to support the project in Somerset.
The existing deal with French energy company EDF and Chinese financiers, which was agreed by former chancellor George Osborne, commits the UK to a 35-year contract with a payment of £92.50 per megawatt hour (MWh) for electricity produced by Hinkley. This is more than double ...