Hinkley Point: what it means for the UK

By Nell Walker
It has finally been confirmed that construction of a new nuclear power plant at Hinkley Point, Somerset, UK, will go ahead. The British government ha...

It has finally been confirmed that construction of a new nuclear power plant at Hinkley Point, Somerset, UK, will go ahead.

 

The British government has green lit the project, which will cost £18 billion, after imposing new safeguards. France and China are funding the project, with China requesting that it designs the station in exchange.

David Elmes, Head of the Global Energy Research Network at Warwick Business School, has 20 years of experience working in the energy and management consulting industries. He made the following comment regarding this news:

“This is what being painted into a corner feels like.  After a surprise delay by the new Prime Minister, Theresa May, the UK Government’s confirmation of the deal to build a new nuclear power station at Hinkley Point locks UK bill payers into an expensive source of energy for decades to come.

“The UK’s climate change commitments make it tough to provide electricity reliably at low emissions, but this deal was started a decade ago when we hoped the companies involved could deliver it on time and at a reasonable cost. The price UK bill payers are committing to through the government is now double and the start date has slipped at least eight years.

“The choices the UK has for the supply and use of energy have changed considerably since this deal was first conceived.  

“The ability of governments, companies and financiers to commit to such huge projects has also faded. While those involved will be hugely relieved; we need a serious discussion of cost effective opportunities that offer as much or a greater contribution to the UK economy so we’re not boxed in to such a decision again.”

 

Follow @ManufacturingGL and @NellWalkerMG

Share

Featured Articles

Rise of European Battery Manufacturing for Electric Vehicles

From ACC to Northvolt, European EV battery manufacturing is on the rise, to combat competition in China. Stellantis & Mercedes-Benz are leading the charge

ABB Acquires SEAM Group for Industrial Transformation

ABB & SEAM Group unite for electrification services. Colin Duncan SEAM Group CEO & Pedro Robredo of ABB, are excited to fuse the two businesses together

Politecnico di Milano's AI Model & Manufacturing Leadership

Giovanni Miragliotta, Politecnico di Milano, discusses the AI revolution, Industry 5.0 & why collaboration with universities should be a priority

S&P Global puts Pirelli in top 1% of Sustainable Companies

Sustainability & ESG

The Opportunities of DSP Technology & AI in Manufacturing

Smart Manufacturing

Dr Schär's Sustainable Packaging & Gluten-Free Innovations

Sustainability & ESG