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Ineos Boss Says Hinkley Nuclear Power Too Expensive

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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....

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  • 404 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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