It’s Official: The United Kingdom is to subsidize nuclear power, but at what cost?
The United Kingdom may soon be entering a new phase of development of nuclear power generation.
Currently the UK has 16 reactors that generate around one sixth of the country's power, but no new plant has been constructed for more than 20 years. Much of the nuclear fleet will be decommissioned over the next 20 years as maintenance costs increase and it becomes impossible to meet the costs of complying with safety standards.
In 2012 a license was granted to construct a new nuclear power station in Somerset, England—called Hinkley Point C. Hinkley Point C is the first of the new generation of plants to receive government endorsement.
A review of planned subsidies by the Global Subsidies Initiative to the proposed Hinkley Point C nuclear project finds billions of pounds in committed subsidies and the government on the hook for billions more if the project fails to deliver.