NUCLEAR POWER COST

Summary

That this House commends the judgement of City analysts Liberum Capital who say that the Hinkley Point nuclear power station deal is economically insane offering a price for electricity at double the going rate, index linked and guaranteed for 35 years; agrees with the head of Ineos, Jim Ratcliffe, that the price of £95 per megawatt hour agreed with Électricité de France is a rip-off especially when the company simultaneously agreed a price of £38 for French customers; is alarmed that future British industry and domestic users will be forced to buy some of the most expensive electricity in the world, adding to the burdens of domestic bills and putting industry at a competitive disadvantage; and calls for a full disclosure of the deal and parliamentary debate.

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Timeline

1. 16 December 2013

   Early Day Motion

   That this House commends the judgement of City analysts Liberum Capital who say that the Hinkley Point nuclear power station deal is economically insane offering a price for electricity at double the going rate, index linked and guaranteed for 35 years; agrees with the head of Ineos, Jim Ratcliffe, that the price of £95 per megawatt hour agreed with Électricité de France is a rip-off especially when the company simultaneously agreed a price of £38 for French customers; is alarmed that future British industry and domestic users will be forced to buy some of the most expensive electricity in the world, adding to the burdens of domestic bills and putting industry at a competitive disadvantage; and calls for a full disclosure of the deal and parliamentary debate.

   Source: Early Day Motion

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Sponsors

• Paul Flynn · Labour · Primary sponsor

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