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UK taxpayers could fund nuclear power stations

 
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Aurora



Joined: 24 Jan 2007
Posts: 8502

PostPosted: Mon Apr 04, 2011 6:23 pm    Post subject: UK taxpayers could fund nuclear power stations Reply with quote

Quote:
The Guardian - 04/04/11

Loophole in energy bill could see UK taxpayers funding nuclear bailouts

Obscure clause would make government liable for unexpected costs, despite assurances that the industry will not receive public subsidies.

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RenewableCandy



Joined: 12 Sep 2007
Posts: 12469
Location: York

PostPosted: Mon Apr 04, 2011 6:33 pm    Post subject: Reply with quote

I think this is unavoidable and that is one of the things that puts me off nuclear power. If an accident happens, the cost of damage can be practically limitless. How much would it cost, for example, to permanently relocate hundreds of thousands of people (including their schools, jobs and all associated infrastructure)? EDF or whoever, couldn't underwrite all that even if they wanted to.

They could take out insurance, but again, no commercial company would under-write it, which is why HMG is having to do so.
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emordnilap



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PostPosted: Mon Apr 04, 2011 7:12 pm    Post subject: Reply with quote

'Obscure'. One way of putting it, as if - as if! - such a clause might not have been there.
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clv101
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Joined: 24 Nov 2005
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PostPosted: Mon Apr 04, 2011 8:15 pm    Post subject: Reply with quote

The Government is always the insurer of last resort and nuclear accidents are perfectly possible to be uninsurable by the private sector - nuclear will ALWAYS have government support.
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cubes



Joined: 10 Jun 2008
Posts: 565
Location: Norfolk

PostPosted: Mon Apr 04, 2011 8:41 pm    Post subject: Reply with quote

The government will pay the lion's share (as it was probably always planned) and the private companies will get the profits while the taxpayers pay for most of the costs if things go wrong. I doubt there was ever any sensible talk behind closed doors of the private sector paying for most of it.
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energy-village



Joined: 22 Apr 2008
Posts: 1054
Location: Yorkshire, UK

PostPosted: Mon Apr 04, 2011 11:15 pm    Post subject: Reply with quote

cubes wrote:
The government will pay the lion's share (as it was probably always planned) and the private companies will get the profits while the taxpayers pay for most of the costs if things go wrong.


Privatise the profits, nationalise the losses. Sounds all too familiar.
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JohnB



Joined: 22 May 2006
Posts: 6457
Location: Beautiful sunny West Wales!

PostPosted: Mon Apr 04, 2011 11:39 pm    Post subject: Reply with quote

cubes wrote:
The government will pay the lion's share (as it was probably always planned) and the private companies will get the profits while the taxpayers pay for most of the costs if things go wrong. I doubt there was ever any sensible talk behind closed doors of the private sector paying for most of it.

Shouldn't the private company at least be bankrupted first, and then the government pays out?

My plan is to make sure I don't pay much tax, so they can't use my money (legally of course Very Happy), but not having nukes in the first place to potentially put us in this position would be better.
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