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Nuclear dinner a turkey? Well over a year ago, EDF chief executive Vincent de Rivaz famously suggested that come Christmas Day 2017, some of us would be cooking our turkeys using power generated from a new UK nuclear power plant. But will he be eating his words come then? Clearly a lot could go right over the next seven years. His optimism might be well-founded. Equally, a lot could go not quite as planned. It is a long time since we built a new nuclear plant here and the experience of the two schemes in Europe at present - Finland's Olkiluoto project and France's Flamanville plant - is hardly encouraging. The former is way off the pace, years behind schedule and way over the original budget. The latter is said to be 20 per cent over budget. The economics here are hardly encouraging and are unlikely to get better in the short term without some dramatic intervention in terms of capacity payments or support for the carbon price. Gas may yet be the safest cooking option come December 2017 if you fancy a hot dinner. Or anyone for salad? Source: Disconnector © Faversham House Group Ltd 2010. News articles may be copied or forwarded
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