Minato International - New Nuclear Power Plant For Britain.

Minato International: The United Kingdom is set build Europe’s first nuclear power plant since the Fukushima disaster in Japan.

Minato International: The United Kingdom has given the go-ahead for the construction of a new nuclear power plant which, once completed, will generate 7% of the country’s electricity requirements.

The project, which will cost £16 billion ($25 billion) will be the country’s first since 1995 and Europe’s first since the nuclear power disaster at Japan’s Fukushima plant in the aftermath of March 2011’s devastating earthquake and tsunami.

An “Minato International” energy analyst said, “We think this represents the clearest indication yet of a softening of general negative attitudes towards nuclear power after Fukushima. In the fullness of time, we expect other European governments to follow the British lead and recognize that the kneejerk reaction to the Fukushima disaster has come at the cost of higher fuel prices”.

EDF, the French-owned energy giant will build two new reactors at Hinkley Point in Somerset with two minor-stake Chinese contractors CGN and CNNC. There have been rumblings of discontent about the “strike price” – the fixed amount paid to utilities suppliers for the energy they generate - the British government has agreed to pay. At £92.50 per megawatt/hour, the rate is twice the current wholesale price for electricity.

Minato International analysts say the price is high but also cite the 25,000 jobs the project will create before the plant comes online in 2023. On matters of safety, the Asia-based brokerage said that while risks were inherent in nuclear power generation, there could be no denial that the energy produced was far cleaner than fossil-fuel based power from burning coal, oil and gas.


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by Hmcdaniel (few years ago!)

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