Best of the Week
Most Popular
1.Bitcoin War Begins – Bitcoin Cash Rises 50% While Bitcoin Drops $1,000 In 24 Hours - Jeff_Berwick
2.Fragile Stock Market Bull in a China Shop -James_Quinn
3.Sheffield Leafy Suburbs Tree Felling's Triggering House Prices CRASH! - Nadeem_Walayat
4.Bank of England Hikes UK Interest Rates 100%, Reversing BREXIT PANIC Cut! - Nadeem_Walayat
5.Government Finances and Gold - Cautionary Tale told in Four Charts - Michael_J_Kosares
6.Gold Stocks Winter Rally - Zeal_LLC
7.The Stock Market- From Here to Infinity? - Plunger
8.Ethereum (ETH/USD) – bullish breakout of large symmetrical triangle looks to be getting closer - MarketsToday
9.Electronic Gold: The Deep State’s Corrupt Threat to Human Prosperity and Freedom - Stewart_Dougherty
10.Finally, The Fall Of The House Of Saud - Jim_Willie_CB
Last 7 days
Some Traders Hit. Some Traders Miss. Here's How to be Part of the 1st Group - 22nd Nov 17
Geopolitical Risk Highest “In Four Decades” – Global Gold Demand to Remain Robust - 22nd Nov 17
Relationship between Crude Oil Price and Oil Stocks - 22nd Nov 17
Harry Dent’s Gold Prediction Invalidated - 22nd Nov 17
Gold Sector is On a Long-term Buy Signal - 21st Nov 17
Saudi Arabia and Israeli Alliance Targets Iran - 21st Nov 17
What History Says for Gold Stocks in 2018-2019 - 21st Nov 17
US Bond Market Operation Twist by Another Name and Method? - 21st Nov 17
Learning from Money Supply of the 1980s: The Power and Irony of “MDuh” - 20th Nov 17
Trump’s Asia Strategy, Goals and Realities - 20th Nov 17
Crude Oil – General Market Link - 20th Nov 17
Bitcoin Price Blasts Through $8,000… In Zimbabwe Tops $13,500 As Mugabe Regime Crumbles - 20th Nov 17
Stock Market More Correction Ahead? - 19th Nov 17
Universal Credits Christmas Scrooge Nightmare for Weekly Pay Recipients - 18th Nov 17
Perspective on the Gold/Oil Ratio, Macro Fundamentals and a Gold Sector Bottom - 18th Nov 17
Facebook Traders: Tech Giant + Technical Analysis = Thumbs Up - 18th Nov 17
Games Betting System For NCAA Basketball Sports Betting - Know Your Betting Limits - 18th Nov 17
Universal Credit Doomsday for Tax Credits Cash ISA Savers, Here's What to Do - 18th Nov 17
Gold Mining Stocks Fundamentals Q3 2017 - 17th Nov 17
The Social Security Inflation Lag Calendar - Partial Indexing - 17th Nov 17
Mystery of Inflation and Gold - 17th Nov 17
Stock Market Ready To Pull The Rug Out From Under You! - 17th Nov 17
Crude Oil – Gold Link in November 2017 - 17th Nov 17
Play Free Online Games and Save Money Free Virtual Online Games - 17th Nov 17
Stock Market Crash Omens & Predictions: Another Day Another Lie - 16th Nov 17
Deepening Crisis In Hyper-inflationary Venezuela and Zimbabwe - 16th Nov 17
Announcing Free Trader's Workshop: Battle-Tested Tools to Boost Your Trading Confidence - 16th Nov 17
Instructions to Stop a Dispossession Home Sale and How to Purchase Astutely at Abandonment Home - 16th Nov 17
Trump’s Asia Tour: From Old Conflicts to New Prospects - 16th Nov 17
Bonds And Stocks Will Crash Together In The Next Crisis (Meanwhile, Bond Yields Are Going Up) - 16th Nov 17
A Generational Reset That Will Redistribute Wealth to the Bottom 60% Is Near - 16th Nov 17
Ethereum (ETH/USD) – bullish breakout of large symmetrical triangle looks to be getting closer - 16th Nov 17
Gold’s Long-term Analogies - 16th Nov 17

Market Oracle FREE Newsletter

Traders Workshop

Poor People Will Foot The Bill For Nuclear White Elephants 

Politics / Nuclear Power May 24, 2012 - 04:05 AM GMT

By: Submissions

Politics

Dr Gerry Wolff submits: “There is absolutely no case for subsidising nuclear power” said Dr Gerry Wolff of the Energy Fair group, responding to the recently-published draft of the Energy Bill 2012. “The proposed ‘feed-in tariff with contracts for difference’ is a blank cheque to a nuclear industry that is already heavily subsidised.”


The group’s report on “The financial risks of investing in new nuclear power plants” (bit.ly/JhdNtL) shows that, by the time any new nuclear power plant may be built in the UK (2020 or later), much of the market for its electricity will be disappearing. Consumers, both large and small, will be empowered to generate much of their own electricity or to buy it from anywhere in Europe --  because of the falling cost of renewables and the likely completion of the European internal market for electricity.

“Nuclear white elephants will be paid for via surcharges to consumers’ bills, perhaps for as much as 35 years.” said Dr Wolff. “It will be mainly poorer people that will foot the bill because they will be least able to afford the up-front costs of generating their own power.

“In terms of the fight against climate change, nuclear power diverts attention, effort, and large amounts of money away from better and cheaper solutions, where those resources would be more effectively spent. In general, renewables can be built very much faster than nuclear power stations, they are substantially more effective in cutting emissions, and, taking account of all subsidies, they are cheaper than nuclear power.

“Far from providing security of energy supplies, failure of a nuclear power station is normally very disruptive on the grid because, normally, a largish chunk of power is lost without much warning. By contrast, the gradual and predictable variations in the output of renewables are much easier to manage. There is a range of techniques which can ensure reliable, robust and responsive supplies of electricity from entirely renewable sources of power (see bit.ly/I4E5vr).

“Our research shows that there are more than enough renewable sources of power to meet our needs now and for the foreseeable future, they provide diversity in energy supplies, and they are largely free of the several problems with nuclear power, including the risk of nuclear disasters, the still-unsolved problem of what to do with nuclear waste that will be dangerous for thousands of years, and facilitating the proliferation of nuclear weapons.”

The Energy Fair group has already submitted a formal complaint to the European Commission (the Directorate General for Competition) about subsidies for nuclear power.

“Nuclear power is a long-established industry that should be commercially-viable without support.” said Dr Wolff. “Subsidies should be reserved for renewable technologies that are relatively new and are still finding their feet commercially.”

-----------------

NOTES

1 More detail may be found on www.energyfair.org.uk/no-subsidies.

2 An article about the disappearing market for nuclear electricity is here: A subsidy for nuclear power and its unintended consequences.

3 For information about Energy Fair’s formal complaint to the European Commission, see www.energyfair.org.uk/actions#second_complaint.

4 Contact: Dr Gerry Wolff PhD CEng, Coordinator, Energy Fair, gerrywolff65@gmail.com, +44 (0) 1248 712962, +44 (0) 7746 290775,www.energyfair.org.uk , 18 Penlon, Menai Bridge, Anglesey, LL59 5LR, UK.

Copyright © 2012 Dr. Volkmar “Marc“ G. Hable - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2017 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

Catching a Falling Financial Knife