Hitachi’s decision to down tools on its proposed GBP16 billion ($20.6 billion) nuclear project in Wales, announced on January 17, could be a blessing in disguise for British consumers. Instead of further subsidizing a globally declining industry, the government has simpler alternatives to ensure long-term energy security and affordable electricity prices for all. Natural gas, more renewables, storage and demand response are cost-efficient solutions with significantly lower risk than bankrolling the potentially ruinous cost of atomic fission. The suspended project was to be built at Wylfa Newydd on the Welsh coast by the Japanese industrial giant and scheduled to be operational by 2027. Designed to produce 2.7 GW of electricity, it would have generated more than enough power to meet the demand of a city the size of Manchester, or keep 100 million lightbulbs turned on for a year. Losing the project has raised concerns about the long-term future of nuclear power in the UK. Its cancellation follows the abandonment by Toshiba in November of the 3.4 GW Moorside project in Cumbria. The loss of these projects reduces the number of planned plants to three – the GBP18 billion Hinkley Point C being built near Bristol and two projects at… continue reading
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Source: CTRM Center