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< Deloitte acquires carbon consultancy | Government plans environmental survey of wave and tidal power >

Nuclear new-build needs carbon price certainty, say developers

Written by: Janet Wood | 04 March 2010

Nuclear new-build developers called on the government to set up a mechanism to support the carbon price, saying that without such a mechanism all low-carbon investment was at risk.
EDF Energy's Humphrey Cadoux-Hudson, who aims to be the first developer to bring new nuclear online, said of the EU's emissions trading scheme, which is designed to produce a carbon price, that it was "not possible to leave some things at the mercy of a poorly-defined market". He said, "With the carbon price so low the signal for low-carbon energy investment is compromised. Now is the time to act", adding that EDF's preferred solution was a carbon price floor. He said he could, "See no reason why the government should not act unilaterally".
Alan Raymant, chief executive of Horizon, a joint venture of RWE and Eon that aims to build nuclear reactors at Oldbury and Wylfa, agreed. He said there was a "consensus building that changes need to be made to the market framework. But we need to see how that translates into specific proposals". He pointed out that his company was already spending millions on developing the project, and the company needed to see the road ahead. "Projects with long gestation carry huge development risk. We need to have a framework in place in time to see that those development costs will be renumerated in the long term."
The developers were speaking at a Nuclear Industries Association conference on nuclear new-build. The conference also hosted an inward trade delegation from 14 countries who visited British companies preparing to become suppliers to the nuclear industry.

Tags: electricity generation, nuclear

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