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Price of new nuclear could more than halve in UK – report

PowerPolicy

24 Jun 2020 05:49

Photo: EDF

Photo: EDF

London

24 Jun 2020 05:49

(Montel) The price of new nuclear power stations in the UK could tumble from GBP 92.50/MWh for the Hinkley Point plant to GBP 40/MWh, a report from the country’s Nuclear Industry Association (NIA) said on Wednesday. 

“We’re confident the price of nuclear power will fall from the GBP 92.50/MWh for the first plant, closer to GBP 60/MWh for the next wave of power stations, reducing to around GBP 40/MWh for further reactors,” it added in its A Nuclear Roadmap, an assessment produced for the government.

“Greenlighting new projects already in the pipeline would trigger a ramp-up in investment and job creation in parts of the UK facing the biggest economic challenges and clear the way for long-term decarbonisation.

“We have the potential to treble our nuclear electricity generating capacity… To get to net zero we need ambition, commitment and planning,” said the NIA.

Net zero emissions

The UK plans to achieve net zero emissions by 2050, with France’s EDF planning to complete its controversial 3.2 GW Hinkley Point C nuclear plant by 2025.

It is thought this could spark something of a nuclear renaissance in the country, with EDF also mulling another 3.2 GW plant at Sizewell with China’s CGN, with a planning application filed last month.

Some see developments such as Sizewell necessary to meet the country’s ambitious climate targets, though concerns have been raised about the cost of Hinkley Point, with the government paying double the going rate of electricity at the time when it set the so-called strike price it was providing to EDF.

“Nuclear just isn’t cost-effective,” said Doug Parr, chief scientist for campaign group Greenpeace, referring to the new nuclear plans.

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