EDF and nuclear subsidies: how times change
EDF Energy, London's electricity company, has told the Government it is prepared to shoulder the cost of building a £10bn fleet of four nuclear power stations without the support of a penny of taxpayers' money.[…]
In a private speech to City bankers this week, EDF's UK chief executive Vincent de Rivaz said using state-of-the-art European reactor technology as its business model for the project would make money for investors.
'There is no subsidy in the business case,' said de Rivaz. 'There is no line in the budget which is called 'taxpayers' money'. The nuclear option is based on sound economics.'
Wow! The nuclear option is based on sound economics, Mr de Rivaz? There is no subsidy in the business case? EDF can shoulder the cost of building four nuclear power stations without the support of a penny of taxpayers' money? This is fantastic news. We take back all of what we said about how the economics of nuclear power are a ridiculous joke. Sorry, what’s that? Oh, dear…
New nuclear power stations will not be built in Britain unless the government provides financial support for the industry, the head of the country’s biggest nuclear generator has warned.Vincent de Rivaz, chief executive of the UK subsidiary of EDF, told the Financial Times that a “level playing field” had to be created that would allow the nuclear industry to compete with other low-emission electricity sources such as wind power.
Wow! You mean the nuclear option isn’t based on sound economics, Mr de Rivaz? There is a subsidy in the business case? EDF can’t shoulder the cost of building four nuclear power stations without the support of a penny of taxpayers' money? This is fantastic news. We were right all along - the economics of nuclear power are a ridiculous joke.

Comments
The government's policy is that all new nuclear power stations will only be built if the private sector "pay the full cost of generation, including the full cost of decommissioning and waste disposal". EdF and Areva have been clear front runners in the bid to build new nuclear in the UK, so this may herald the end of the Labour Party's foolish headlong rush to nuclear power.
Posted by: Peter Rowberry | June 1, 2009 10:48 PM
You ask
Did you bother reading the FT article? EDF aren't asking for a subsidy, they say the fossil plants are paying too low a penalty for CO2 emissions (do you disagree?) and that wind is getting too high a subsidy.Posted by: John Hughes | October 20, 2009 11:24 AM