If the Hinkley C nuclear deal looks astonishing, that’s because it is

Press/Media: Articles in 'The Conversation'

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I was rather perplexed to wake up to hear the news that George Osborne was pledging £2bn in loan guarantees for the ill-fated Hinkley C nuclear power project in England. Hadn’t he already pledged £10bn in loan guarantees more than two years ago?

Hinkley C, all 3.2 gigawatts of it, was according to earlier proud boasts supposed to be up and running in 2018, but will now be lucky to be started by 2025. As recently as 2008, the total cost of such a plant was estimated by the UK department of energy at £5.6bn. Now it could easily be five times higher.

Period22 Sep 2015

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