Nuclear ‘no subsidy’ stance won’t work says academic

Steve Thomas, professor of energy studies at Greenwich University, claims that the coalition government’s policy of offering no subsidies “will either lead to no new nuclear plants being built, or […]

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Steve Thomas, professor of energy studies at Greenwich University, claims that the coalition government’s policy of offering no subsidies “will either lead to no new nuclear plants being built, or a humiliating climb-down if government wants new nuclear at any cost”.

Writing in a special Labour conference edition of Parliament’s weekly magazine The House, Prof Thomas said that without protection from the market, “the costs are far too high to be competitive and the investment far too risky to be financed”.

He backed up his argument by citing ratings agency Standard & Poor’s, which has warned of risks to companies’ ratings if they invest in new nuclear.