We are loaning £16 billion from the Chinese to build a new nuclear power station under the control and profit share of EDF Energy (French). We are having to do this because of signing up to the Kyoto agreement that force us to close our old coal power stations.
But the Chinese are building coal fired power stations at the rate of one per week and have no thought of the pollution that results.
Really crazy double standards,we seem to be once again the mugs of the world.
Whilst there seems to be an agreed price for electriclty that we will pay from that nuclear station I am sure that the Chinese and French have lots of opt out clauses that let them up that price.
This new station will provide 7% of our power and by 2020 we will have a shortage so they will have a lot of price leverage if they threaten to throw the switch!!!
Once we have done this once I am sure governments will be tempted to do it again,the Tories moaned about the Labour PFI school and hospital finance/leasing...effectively off balance sheet borrowing,this chinese deal is really the same but instead of governments taking responsibility for the loan repayments,this time it will be electric consumers that will foot the bill.
I say keep the old coal stations running until the world finds a better solution.
I notice none of the news mentions who will be responsible for safe storage of the waste,do we believe it will be the French or the Chinese?
I thought we were once Great Britain,why can't we finance our own utilities?
KudosDave
But the Chinese are building coal fired power stations at the rate of one per week and have no thought of the pollution that results.
Really crazy double standards,we seem to be once again the mugs of the world.
Whilst there seems to be an agreed price for electriclty that we will pay from that nuclear station I am sure that the Chinese and French have lots of opt out clauses that let them up that price.
This new station will provide 7% of our power and by 2020 we will have a shortage so they will have a lot of price leverage if they threaten to throw the switch!!!
Once we have done this once I am sure governments will be tempted to do it again,the Tories moaned about the Labour PFI school and hospital finance/leasing...effectively off balance sheet borrowing,this chinese deal is really the same but instead of governments taking responsibility for the loan repayments,this time it will be electric consumers that will foot the bill.
I say keep the old coal stations running until the world finds a better solution.
I notice none of the news mentions who will be responsible for safe storage of the waste,do we believe it will be the French or the Chinese?
I thought we were once Great Britain,why can't we finance our own utilities?
KudosDave
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