All I can say is thank goodness TM has put the brakes on Hinkley Point and I hope the deal is never signed. Apologies for this long post, but I've been following the negotiations in Private Eye.
As soon as I heard that the Chinese were going to build Hinkley Point, I told my DH it was a bad move from a security stance. Sure enough, the UK’s intelligence agencies are said to be concerned that a “back door” could be built into the control systems, allowing China to shut down the plant if it wanted to and remove it from our control.
Not only that, the EPR design is supposed to be safer and more efficient, but it has proved so difficult to build that not one has yet been completed. EDF started building the first EPR in Finland in 2005. It was supposed to start up in 2009. Work on the second EPR in France began in 2007 and was due to be finished in 2012. Another two EPRs are being built in China. All four projects are years behind schedule and have cost billions more than expected.
That's not all. Weak spots have been found in the French steel reactor core. If it has to be replaced, the unfinished plant would have to be largely dismantled to replace it. To make matters worse, earlier this year, it was reported that one of the companies supplying components to EDF had falsified safety certificates.
There's more. There are legal challenges pending. The Austrian government is appealing against the European Commission’s decision to approve state aid for the project, saying it breaches European laws. French authorities are investigating possible financial misreporting by EDF.
All that is to do with building it, but the cost of the electricity is extortionate. The guaranteed rate for electricity for the first 35 years is almost 50 per cent above current wholesale market energy price levels. Also, details in the proposal show guaranteed price can be increased "in relation to operational and certain other costs". Other energy firms have warned the deal could mean households could face higher energy bills to subsidise the project.
Sorry, but the whole thing stinks.