Nuclear cost overruns must not hit other low-carbon projects

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Commenting on the news that the Government has agreed a strike price with EDF Energy for a new nuclear plant at Hinkley Point in Somerset, Nick Molho, head of climate and energy policy at WWF-UK, said: “Now that the Government has agreed a deal to support to EDF’s proposed new plant at Hinkley, it is essential that clear mechanisms are in place to prevent any future cost overruns from having an impact on the funding available to other low-carbon technologies such as renewables.

“This will be key to protect investment certainty for such technologies where there is significant potential to reduce costs, and to support economic growth in the UK without the environmental concerns associated with nuclear power, most notably the absence of a long-term geological storage solution for high level radioactive waste.”

WWF said that the CCC’s Low-Carbon Innovation report [1] showed that technologies like offshore wind could stimulate economic growth in the UK more than nuclear. This was supported by a research by Cambridge Econometrics, which highlighted the economic benefits of offshore wind [2].

Source: http://www.wwf.org.uk/what_we_do/press_centre/index.cfm?uNewsID=6848

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