The news that Hitachi has paid what seems a high price for the Horizon franchise to build new nuclear stations in the UK is good news for the industry. Hitachi has a strong balance sheet and a good technical record – untarnished by Japan’s Fukushima incident. The deal is a tribute to the Department of Energy and Climate Change officials involved and to Number 10′s strong support for the nuclear programme.
Now, only two questions remain. What price will UK consumers pay for nuclear generated power and who will fund EDF’s initial investment in Hinkley Point.
After a long and successful campaign to make nuclear power acceptable within the UK the companies involved in the industry seem to be jeopardising further progress by refusing to spell out the detailed costs of the new nuclear stations they want to build. Read more