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Post by anybody on Sept 21, 2015 11:24:07 GMT
Britain pledged £2 billion ($3.1 billion) on Monday for a nuclear plant set to be built in England by a consortium, including Chinese firms, which would be the country's first such new power station in decades.
Chancellor George Osborne announced the funding during a visit to China, saying the Hinkley Point plant was necessary to meet Britain's energy needs as older coal and nuclear plants are retired.
A consortium led by French energy company EDF is expected to make a final decision this year on whether to invest in the plant, but the firm's chief executive welcomed the funding pledge.
"The Chancellor's approval of the infrastructure guarantee is a clear sign of the Government's commitment to Hinkley Point C," Vincent de Rivas was quoted as saying in a statement from the British Treasury.
EDF is the lead contractor in the consortium, which also includes state-run Chinese firms China General Nuclear Corporation and China National Nuclear Corporation.
The Chinese companies are expected to largely finance and get a stake of around 40 percent in the project, which will have two new reactors that authorities hope will generate seven percent of Britain's electricity.
The announcement came during a five-day trip by Osborne during which he is pushing for closer trade ties with the world's second-largest economy, even as global concerns deepen about its health.
"We very much welcome Chinese investment not just in that project but the potential for majority Chinese investment in future nuclear projects in the United Kingdom," he told reporters.
The final decision on investment in the plant could come during a visit to Britain by Chinese President Xi Jinping next month.-quote
French company funded by the Chinese, how multi-national can you get!
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Post by arfurmo on Sept 21, 2015 15:21:05 GMT
Sad that we have lost our nuclear generating capability, but there we are We certainly need reliable back up for the intermittent 'renewable' energy supplies
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Post by ARENA on Sept 21, 2015 17:04:10 GMT
Most of the green alternatives are inefficient and not at all green.
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Post by scorp on Sept 22, 2015 6:41:53 GMT
More of a dirty yeller colour...
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Post by ARENA on Sept 22, 2015 7:59:02 GMT
It's a simple equation. Do we source our own energy or go on depending on the Middle East and Russia.
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Post by Deleted on Sept 22, 2015 8:41:55 GMT
Sad that we have lost our nuclear generating capability, but there we are We certainly need reliable back up for the intermittent 'renewable' energy supplies I am not being picky, but what we have lost is the nuclear industry. We used to design and build our own reactors, and damned good ones but some bird brains decided that was uneconomic. What is a puzzle to me is why we (UK) can't fund the lot, and if we have to we employ EDF as sub contractors. 24 Billion sounds a lot, but is not that much considering the wealth of the UK, ad the cost benefits once it goes into production.
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Post by anybody on Sept 22, 2015 9:13:00 GMT
Your not expecting competence from Cameron & Co, are you?
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Post by Deleted on Sept 22, 2015 9:31:01 GMT
Your not expecting competence from Cameron & Co, are you? I think our energy needs transcend politics, and the UK Nuclear industry has been dismantled by successive governments, not only Tory ones.
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Post by jimshoo on Sept 22, 2015 9:41:48 GMT
Here's how Britain got little.- THATCHER!
British Petroleum October 1979
British Aerospace February 1981
Cable & Wireless October 1981
Amersham International February 1982
National Freight Corporation February 1982
Britoil November 1982
Associated British Ports February 1983
Enterprise Oil July 1984
Jaguar August 1984
British Telecommunications December 1984
British Shipbuilders 1985 onwards
British Gas December 1986
British Airways February 1987
Rolls-Royce May 1987
BAA July 1987
British Steel December 1988
Water December 1989
Electricity 1990
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Post by Deleted on Sept 22, 2015 10:10:50 GMT
Jimshoe
Those are a list of businesses privatised methinks, and most are still thriving, albeit in different forms. But the Nuclear industry was different.
I had a good friend who ran a damned good business near Swindon supplying 'stuff' to the nuclear section. He went from 600 employees to about 20, just enough to maintain what was in the field. can't remember the exact year. That is something I won't forgive Thatcher for.
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Post by starlilolill on Sept 22, 2015 11:32:51 GMT
All the 'privatised industries that are thriving should be a wakeup call to government(s)! If they can make a profit then why shouldn't that profit go back into the tax payers pockets via governments?
George promised your money and mine yesterday to the Chinese - did we get a say in this? Not on your Nelly!
It all seems a bit iffy to me (I'm not an expert!) but surely an untried/untested Chinese nuclear plant is a step too far. That is the third one at Brinkley (sp) I believe.
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Post by arfurmo on Sept 22, 2015 12:40:29 GMT
Here's how Britain got little.- THATCHER! British Petroleum October 1979 British Aerospace February 1981 Cable & Wireless October 1981 Amersham International February 1982 National Freight Corporation February 1982 Britoil November 1982 Associated British Ports February 1983 Enterprise Oil July 1984 Jaguar August 1984 British Telecommunications December 1984 British Shipbuilders 1985 onwards British Gas December 1986 British Airways February 1987 Rolls-Royce May 1987 BAA July 1987 British Steel December 1988 Water December 1989 Electricity 1990 How on earth does privatisation make Britain 'smaller'?
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Post by arfurmo on Sept 22, 2015 12:42:46 GMT
All the 'privatised industries that are thriving should be a wakeup call to government(s)! If they can make a profit then why shouldn't that profit go back into the tax payers pockets via governments? It does. Through taxation of profits and taxation of employees and taxation of products (VAT) The business of government is not running businesses
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Post by starlilolill on Sept 22, 2015 13:48:31 GMT
Oh, ffs - Utilities should be run by the state in my book.
Water Boards as they used to be run by foreigners at a profit! My water bills here in France are less than half what our daughter is paying in the UK - why?
Electricity - shop around for the best deal! I wouldn't bother you'll still end up lining the pockets of EDF etc. Great company by the way, here in France it is anyway!
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Post by arfurmo on Sept 22, 2015 14:02:55 GMT
Oh, ffs - Utilities should be run by the state in my book. There may be a case for nationalising utilities. But a case that is not helped by shouting FFS !
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