EDF chief executive warns France over Hinkley costs

[bananas]

Source: Guardian

The boss of the French state-owned company behind the UK’s first new nuclear power station for 20 years has threatened to pull the plug on the £18bn project without further backing from François Hollande’s government.

Jean-Bernard Lévy, chief executive of EDF, said he needed more financial support from the Elysée Palace to proceed with construction of the plant at Hinkley Point in Somerset.

A letter sent to the company’s staff admits the “tense” financial situation at EDF and the potential danger to a scheme that is at the centre of British energy policy.

“We are negotiating with the [French] state to obtain commitments allowing us to secure our financial position. It is clear that I will not engage in this EDF project as long as these conditions are not met,” said Lévy.

<snip>

Explaining why he was taking the usual step of addressing staff, Lévy said: “In recent weeks, our group is the subject of much debate, especially around the renewal of our nuclear fleet and the construction of two EPR [European pressurised reactors] in the UK at Hinkley Point C.

“You know, the financial situation is tense, and this issue deserves to be clarified. I receive your messages of encouragement, but I also hear some concerns. That is why I address myself directly to you.”

<snip>

Read more: http://www.theguardian.com/business/2016/mar/11/edf-chief-executive-warns-france-over-hinkley-costs

[NNadir]

1. Nobody is warning anyone over the fact that 2015 was the worst year ever for carbon dioxide...

accumulations in the planetary atmosphere, despite we threw two trillion bucks at solar and wind energy in the last ten years for no result.

Two Trillion Bucks

No result

As of 2015, nuclear power is still the largest, by far, source of climate change gas free electrical energy in the United States. The capacity generating this energy was built on 30 year technology, the largest nuclear energy capacity in the wrold.. The United States still enjoys some of the lowest cost electricity in the world.

Electrical generation in the United States, 2000-2015

By clicking on the annual tab in this EIA data we can see that nuclear energy outproduced - despite the caviling of people who hate nuclear energy because they know nothing at all about it - wind, solar and hydroelectric combined

Unfortunately for humanity, very, very, very, very stupid people, who hate science, who hate engineering and who effectively hate humanity have carried on mindlessly for years opposing the world's largest, by far, source of climate change gas free primary energy.

They have worked to destroy infrastructure, intellectual and manufacturing, with nothing, absolutely nothing safe to replace it.

The result is that the fastest growing source of electrical energy generation in the United States and elsewhere is dangerous natural gas, the waste of which is indiscriminately dumped into the planetary atmosphere, thus depriving all future generations of any hope of a stable and sustainable planet.

It is mindless to the point of criminality for an arsonist to complain about fires. It is similarly mindless to the point of criminality for anti-nukes, who have brought this great tragedy before humanity, to complain about cost.

These types of people know nothing at all about the economics of energy. If they did, they would be able to explain why the cost of electricity in Germany is nearly double that of France.

Electricity Prices, Europe.

And the fact that these German prices are higher, and the fact that many anti-nukes are trying to shove so called "renewable energy" down the throats of humanity even though it's incredibly expensive, relies on gas to back it up, and can't do shit against climate change, is a reflection of the fact that no only are they scientifically illiterate, but they obviously hold poor people in contempt. It's easy for a rich bourgeois brat tooling around in an $80,000 Tesla electric car to pay his electric bill, much more difficult for a single Mom living in a one room apartment while working two or three jobs to do so.

Have a nice weekend.