Jump to content
House Price Crash Forum
Sign in to follow this  
interestrateripoff

Ineos Boss Says Hinkley Nuclear Power Too Expensive

Recommended Posts

http://www.bbc.co.uk/news/business-25390456

Power from the new Hinkley C nuclear generator will be too expensive, the boss of one of the UK's biggest energy consumers has warned.

Jim Ratcliffe, whose company Ineos owns the Grangemouth plant in Scotland, told the BBC that UK manufacturers would find the price unaffordable.

The government has guaranteed a price of £92.50 per megawatt hour (Mwh).

Mr Ratcliffe said Ineos recently agreed a deal for nuclear power in France at 45 euros (£37.94) per Mwh.

The government has guaranteed that the new Hinkley station, being development by France's EdF and backed by Chinese investors, can charge the £92.50 minimum price for 35 years.

"Forget it," Mr Ratcliffe said in an interview with the BBC's business editor Robert Peston.

It's OK higher prices mean bigger GDP meaning a more productive economy....

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   206 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.