Monday, September 16, 2024

Britain’s third new nuclear power station to be built in Anglesey

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However, it has refused to take the risk of financing the scheme, which is instead being funded under the Regulated Asset Base (RAB) system. This allows companies to impose a charge on consumers before the power station has even started generating.

The aim is to reduce borrowing and so cut the financing costs that have crippled Hinkley.

The Wylfa B plant is also likely to be financed under the RAB system which means consumers will see bill increases for Wylfa B and Sizewell C before either generates any power.

Alison Downes, of Stop Sizewell C, said: “The Government seems determined to double down on gigawatt nuclear, the slowest most expensive energy source to build, which the British public – in the form of taxpayers and consumers – will be forced to pay for.

“We send our empathy to the people of Anglesey who will be forced to fight yet another inappropriate development. Our advice is to take very little of what is promised in the form of ‘community benefits’ at face value.”

Andrew Bowie, the minister for nuclear energy, was on Wednesday scheduled to meet with the Nuclear Non-Governmental Organisation Forum to hear various groups’ concerns over the expansion of nuclear energy.

However, he cancelled the meeting at short notice as news of the Wylfa plan emerged.

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