Dr Charles Donovan, Director of the Centre for Climate Finance and Investment, Imperial College Business School
Following up on the National Audit Office warning that Hinkley Point is a ‘risky and expensive project’ which will cost the consumers more than anticipated.
Charlie is available to comment today.
He agrees with the NAO conclusions and also believes that the cost of renewables and energy storage is falling faster than most people think, while the costs and risks of nuclear are only increasing. He can talk about the impact of the decision on both businesses and consumers.
He says: “The NAO conclusions serve as a reminder that many governments around the world have a mental model about energy that’s stuck in the past. The costs of renewables and energy storage are falling much faster than most people think, while the costs and risks of nuclear are increasing. Getting a good deal for British consumers requires being on the profitable side of the energy technology revolution. From a financial perspective, new nuclear simply doesn’t make sense.”
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