27 Sep '11, 4pm

Exposed! #EDF lobby to keep £1bn #nuclear windfall for profit - not vulnerable customers

At the Labour Party Conference yesterday, EDF let slip they are gearing up their lobbying machine to ensure that a new £1bn nuclear 'subsidy-on-the-sly' adds to their profits, rather than going to help those struggling to pay their electricity bills. The introduction of a carbon tax meant to incentivise low-carbon energy projects by taxing gas and coal-fired power has left nuclear in line for a £1bn bonus. Nuclear power stations do not burn fossil fuels and so are exempt from this new tax on high carbon emissions. However, since gas and coal energy companies will be increasing consumer bills to mantain the same profit margin on the energy they sell, this leaves the door wide open for companies like EDF to increase consumer bills in line with other energy companies thus gaining an additional £1bn pure profit. We've been talking to Labour and the Lib Dems about introducing a...

Full article: http://www.greenpeace.org.uk/blog/climate/exposed-edf%E2%...

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