Follow by Email

Tuesday, 2 August 2016

Is Chinese investment in the provision of our nuclear power really such a good idea?

http://www.independent.co.uk/news/business/comment/hinkley-point-reasons-not-to-be-suspicious-of-chinese-investment-a7166576.html



Reasons not to be suspicious of Chinese nuclear investment





A rather curious article from Ben Chu and the Independent, essentially telling the readers that there is nothing to worry about in having huge Chinese involvement in the generation of nuclear power in this country. Rather in the same way as George Osborne heaped praise and encouragement on Chinese investments in the United Kingdom up until a few weeks ago.




Add caption








I recently wrote that personally, I have never been enthusiastic about the Hinkley Point C development. The spiralling costs of the project, which are confidently expected to rise even more and the evidence that time-scale (which is already three years late) will extend well beyond the completion date of 2020, are in themselves sufficient grounds for abandoning the project now. Added to that, the unit price guarantee to EDF (otherwise known as the French Government) well in excess of the current market price will ensure that the British consumer will again be ripped off for energy prices for many years to come. The other huge question mark is the sinister involvement of the Chinese in our domestic energy provision. I can already hear the voices of Unison and the other unions talking about the "thousands of jobs" that this project promises. The evidence from previous ventures of this type demonstrates that the "Jobs", if any, are invariably filled by workers from abroad, In this case, China and France.
Perhaps we are fortunate that a decision on the project has now been delayed until the Autumn. We should abandon the Hinckley Point C scheme as soon as possible.