Hitachi scraps plans for its new £20 billion pound nuclear power plant in Wales.
Business secretary Greg Clark said the government had offered the company a “generous and significant” package of support. ( Taxpayers money ). That included providing a debt facility for the project, taking a one third stake and a guaranteed price of power of up to £75 per megawatt hour for 35 years. The wholesale price is currently £50 per MWh. (Projected windfarms price for the 2020’s is £57.50 and falling.)
Doug Parr, chief scientist for Greenpeace UK, said: ‘Hitachi’s confirmation that no solution has been found for its UK nuclear programme tells you all you need to know about the economics of nuclear power.
‘In the meantime renewable energy costs, especially offshore wind and solar, have plunged dramatically, while new smart technologies including storage have arrived on the scene.
‘A clever move now would be for the Government to accept that the nuclear bet didn’t pay off, stop holding back renewables and have an urgent rethink about the future of UK energy.’