This is such a good and on point article I have to share it.
Hinkley Point C will cost 18 billion euros.
Correction, Hinkley Point C has an estimated cost of 18 billion euros. Large infrastructure projects have a nasty habit of being over time and over budget. This is true of EDF’s latest project in France.
18 billion euros is larger than the capital value of EDF. Major shareholder in EDF is the French government. If Hinkley Point C proves to be, as many suspect, a White Elephant, it will destroy the French government.
The French Unions are oposed to Hinkley Point C and are considering mounting a legal challenge.
The new UK government is having second thoughts.
The price of electricity from Hinkley Point C is guaranteed for the next thirty-five years at double the current price of electricity.
The price of electricity from renewables has been halving every 18 months.
The offshore wind farms Siemens plan to build in the North Sea will deliver electricity…
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