Re:$22B project to provide 8% of UK energy via undersea cabl...
by crote on Thursday March 09, 2023 @06:07PM
(#35088134)
The UK is currently developing 12GW of nuclear power plants, and it is not exactly going great.
Hinkley Point C was originally quoted for £16 billion in 2012, which rose to £20.3 billion when construction started in 2017. It has been under construction for 6 years, they are 3 years behind schedule, and the cost is up to £32.7 billion.
Sizewell C is allowed to start construction and was scheduled to do so in 2021, but they haven't been able to finance it. Moorside was cancelled because Toshiba pulled out of the project, and Hitachi pulled out of the Wylfa B and Moorside plants leading to them getting shelved.
Not to mention that they are very controversial from an economic perspective. Hinkley Point C has a strike price of £92.5/MWh, while recent offshore wind projects have a strike price of £39.65/MWh.
In practice this means the consumer will end up paying to turn off wind turbine in order to run nuclear. It just doesn't make economic sense.
Hinkley Point C was originally quoted for £16 billion in 2012, which rose to £20.3 billion when construction started in 2017. It has been under construction for 6 years, they are 3 years behind schedule, and the cost is up to £32.7 billion.
Sizewell C is allowed to start construction and was scheduled to do so in 2021, but they haven't been able to finance it. Moorside was cancelled because Toshiba pulled out of the project, and Hitachi pulled out of the Wylfa B and Moorside plants leading to them getting shelved.
Not to mention that they are very controversial from an economic perspective. Hinkley Point C has a strike price of £92.5/MWh, while recent offshore wind projects have a strike price of £39.65/MWh.
In practice this means the consumer will end up paying to turn off wind turbine in order to run nuclear. It just doesn't make economic sense.