PurplePenguin
Regular
Governments plural. And not, I wouldn't have imagined, over coffee and without speaking to a few experts.
The latest announcement is sensible, in that it mitigates some of the cost overruns of learnjng about the one they are still building. It also conspicuously doesn't include building any more large scale plants or postponing decommissioning of the existing ones. Instead they are pursuing the modular reactor concept.
You may have misgivings about cost, but I don't see a better alternative. And don't say gas plus CCS.
For Hinkley Point, the government offered EDF a 35 year CFD with an incredibly high strike price. Despite this, due to cost overruns, EDF is still likely to make a loss, but the UK is only on the hook when energy is actually produced.
This time the government owns the majority of the site and will contract EDF to build it. As the government is not in the business of procuring large scale developments, it is highly likely they will foot the bill for the inevitable cost overrun and delay on their site. I imagine EDF have pinky promised that this won't happen.
I'm not against nuclear, but I am in favour of a level playing field. Why not make available the 35 year CFD for everyone providing carbon free baseload and see how the private sector responds to it.
In the end, governments always like grand projects that create lots of jobs irrespective of need and value.