EDF told not to expect UK to step in to fund flagship nuclear project
EDF told not to expect UK to step in to fund flagship nuclear project
Lol that's like the same thing that happend with Stuttgart 21 where they agreed that the State had to pay 21% but 21% of the then projected cost. Now the DB and thus the Federal Government have to shoulder the cost explosion themselves.
Also back to main topic. It would be so hilarious to see the faces of all the internet warriors fighting for "cheap" and "reliable" nuclear energy seeing how THE EDF has to abandon their nuclear reactor because they will never ever ever get a return on their investments.
Why would you want 15ct energy in 20 years when you can get 7ct energy right now??
Slight difference being that to the best of my knowledge China is not a state of the UK.
Archived article: https://archive.is/mCG8w
What the fuck’s an EDF?
Apparently (judging by Google) Electricite de France SA, the French electricity company building a new nuclear power plant in the UK.
I think it is about this currently happening:
https://www-wiwo-de.translate.goog/technologie/wirtschaft-von-oben/wirtschaft-von-oben-212-britische-atomkraft-hier-manifestieren-sich-die-spannungen-zwischen-china-und-dem-westen-in-der-britischen-kernenergie/29183042.html?_x_tr_sl=de&_x_tr_tl=en&_x_tr_hl=de&_x_tr_pto=wapp German website translated with google.
The French state-owned company EDF and the state-owned China General Nuclear Power Group (CGN) are responsible for the construction and future operation of Hinkley Point C. .
On the one hand, EDF had to postpone the opening originally planned for 2025 several times, most recently to 2027. The energy company justified the delay with the Covid pandemic. EDF also had to adjust the costs of the project several times: While initially talk of 18 billion pounds, the construction of the power plant is currently expected to cost more than 32 billion pounds - a cost increase of 80 percent.
This could cost EDF dearly. When the contract was signed in 2016, the Chinese partner CGN only agreed to cover 33.5 percent of the then estimated 18 billion pounds in costs. In return he received a 33.5 percent share in the project. Given the recent squabbles between the governments in London and Beijing, it would be no surprise if CGN sat out the next round of financing.
Basically if the Chinese don't pay the UK won't pay either. This is terrible because EDF had already to pay a huge fine for a Finnish nuclear plant that finished (haha) 12 years too late and the French government is also running out of money building their own nuclear plants with EDF, while having to keep their old plants from breaking down. They had to raise the price of nuclear power for 60 % this year and decided to build additionally offshore wind plants, because they finally had to realize new nuclear power plants will arrive way too late. It's a huge mess.
Big french electric company that also sells electricity in the UK.