Hinkley point C is a nuclear power plant based on the Somerset coast and is currently the largest building site in the UK. When Finally completed Hinkley Point C will be the most expensive power station in the world, generating energy for the masses.
But what some people don’t know is that it is currently years behind schedule and an estimated 15 – 50 billion pound over budget and with renewable energy prices at an all time low I decided to investigate and see if Hinkley Point C will hold up and benefit the UK as a whole or will it fall short and fail meet goals and deliver promises?
Hinkley Point C, first announced four decades ago promised to generate electricity for the country as a whole and cut energy costs in half but with Nuclear power also referred to as brown energy is currently facing problems all around the world as more and more people around the globe want to help save the planet and lower carbon emissions by switching to green energy. To put it simply Nuclear doesn’t make sense anymore.
Before Theresa May left office she signed off on a strike price regarding Hinkley Point C and was set at £92.50 per megawatt hour (Mwh) that is more than a %50 price rise due to take effect when Hinkley Point C goes live, Currently the set price per megawatt hour is £52.50 per megawatt hour (Mwh) what this means is home and business owners energy bills will increase by over %50 when Hinkley Point C is due to go live in 2021.
Unfortunately there is no way to avoid this if you are living in the UK. With Hinkley Point C being so far over budget and so far behind schedule they negotiated this price rise so they could re-coup their losses. EDF the main funder of this new power plant, since giving the go ahead on this project have lost an estimated £70 billion in net profit.
I definitely think when this was announced four decades ago it was the correct thing to do with no source of renewable energy in the UK and having to buy energy from other countries such as France, It would’ve helped the country start to lower energy bills for everyone in the UK weather you were a business or a home user. But so much has happened over those four decades that Nuclear simply doesn’t make sense anymore with major technological advancements and renewable green energy at an all time low, Hinkley Point C will not end up benefiting consumers of energy around the UK as promised but actually end up with a 50% increase on all energy bills when launched in 2021 and will continue to damage the environment.
Author – Nathan B