Molly says NO to Hinkley, NO to nuclear on the anniversary of Fukushima

Molly says NO to Hinkley, NO to nuclear on the anniversary of Fukushima

On the fourth anniversary of the Fukushima nuclear disaster, Green MEPs have today written to Commissioner Margrethe Vestager, in charge of competition, insisting she reopen the decision on funding for the Hinkley C nuclear power station. Greens argue that the decision, reached by the previous European Commission, was made on the basis of financial arrangements which have changed fundamentally in recent months.

The four Green MEPs [1] who have signed the letter cite recent reports which show Areva, the company with a 10% share in financing the project, is in grave financial trouble and has reported losses of nearly €5 billion. They also point to reports that the UK Government is considering taking a 10% ‘golden share‘ in the project in order to secure ‘national interest’, something the MEPs argue ‘significantly modifies the overall balance of the project and clearly constitutes a form of indirect state aid’. The letter concludes:

‘Last week we held a conference in London to draw attention to the excessive cost of nuclear subsidies and the distortions these are causing for renewable electricity generators. South West England is an area rich in a wide variety of renewable energy resources and the uncertainty surrounding the Hinkley development is having a chilling effect on investment in these industries. This is not only causing immediate economic damage, but is also undermining efforts to deal urgently with the need to reduce our carbon dioxide emissions’.

Molly Scott Cato MEP, whose constituency Hinkley is in said:

“This project is in disarray. It is now clear that there are fundamental changes to the basis on which the state aid determination was made by the Commission in October 2014 and we therefore insist that Commissioner Vestager re-examine the decision.”

Notes

[1] The four Green MEPs who have signed the letter are: Rebecca Harms MEP, Molly Scott Cato MEP, Claude Turmes MEP and Michel Reimon MEP

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