Sunday, May 30, 2010

Huhne: there will be new nuclear build

“It is very clear from the coalition agreement that there will be a new generation of nuclear power,” said Energy Secretary Chris Huhme interview in today's Sunday Times which you can read here.

The tone of the interview has been widely interpreted as indicating a softening of Chris Huhne's personal objections to nuclear power.

In particular Huhne insisted that despite budgetary restrictions there was an appetite to build plants.

“The investors who are most interested in this issue accept the situation where there will be no subsidy,” he said.

He said the likely rise in gas and oil prices over the next few years would make nuclear more attractive to private finance. “They are looking at the likely rise in the carbon price. That will provide an incentive to all low-carbon and zero-carbon forms of energy.”

See previous post on the economic implications for nuclear power of the no-subsidy policy.

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