The finance director of EDF, the French energy giant, has quit over its plans to build George Osborne’s new pet project : a new power plant at Hinkley Point in Somerset. At first glance, this seems odd: isn’t the whole problem that the Chancellor has pledged so much taxpayers’ money to this white elephant so the public will be royally ripped off to the benefit of French (and, recently, Chinese) investors? When it’s up and running, yes. But meanwhile someone has to build this, and there have already been delays and cost multiplications. Osborne has sold a third of the stake to the Chinese – not known for their prowess in civil nuclear energy. But the French still need to find the cash for the remaining two-thirds stake in this £18 billion project – and they’re struggling. No matter how much the Chancellor promises to rip off the taxpayer when it’s up and running.
So Thomas Piquemal of EDF has now joined an army of environmentalists who are up in arms about the Hinkley Point C nuclear power station.
Get Britain's best politics newsletters
Register to get The Spectator's insight and opinion straight to your inbox. You can then read two free articles each week.
Already a subscriber? Log in
Comments
Join the debate for just £1 a month
Be part of the conversation with other Spectator readers by getting your first three months for £3.
UNLOCK ACCESS Just £1 a monthAlready a subscriber? Log in