At Hinkley, it’s EDF that pays for construction and all costs at the plant until it begins generating power, meaning the company shoulders almost all of the risk. In the case of Hitachi, Harrington’s comments says the government plans to take more of the risk.
Nuclear power can take a decade to build and negotiations are usually done directly between the government and the sponsoring company. That contrasts with the system of competitive auctions that’s funding most traditional power plants — as well as wind and solar farms.
What they don’t say is that the taxpayers will be paying through the nose to a corrupted 1 percent who are greedy and selfish. Power costs for nuclear are now DOUBLE what they are for solar and wind, which typically now are sold without any subsidies. Nuclear power still needs huge subsidies and taxpayer bailouts, plus the costs for construction always go up between 2000 to 4000 percent from original ‘estimates’.
There is still no answer for the nuclear waste, which is another cost that taxpayers absorb along with health costs to nuclear workers and public from a toxic industry that spreads diseases, DNA damage and toxic waste that never goes away..