Monday, 21 October 2013

Do you want cheap shale gas or French nuclear power?

EDF, which already builds wind farms whose output has to be subsidised when the wind's not blowing - and when it is blowing too hard for them to cope with - now looks set to grow even richer at our expense, by building us some costly and unnecessary nuclear power stations. I wonder which ministers and mandarins are getting the bungs?

UKIP's Nigel Farage says "With new technology coming on stream this approach looks like a dangerous gamble. As the small print says, prices can always go down as well as up. The government's decision to commit to £92.50 per megawatt hour may prove to be a great folly, especially if we as a country get serious about fracking and the massive potential of cheap shale gas." And the party's energy spokesman Roger Helmer adds "I am deeply concerned that this new proposal risks privatising the profits into the hands of the foreign EDF Energy, whilst socialising the risks for taxpayers." Just like banking policy, when you think about it.

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