29 Mar '12, 11am

#Energy policy in tatters as two more companies scrap plans for new #nuclear

#Energy policy in tatters as two more companies scrap plans for new #nuclear

This morning two more energy companies abandoned their plans to build new nuclear power stations in the UK. It’s left the government’s energy strategy in tatters – and it’s time for them to admit that the future is not nuclear and start investing in cleaner, safer renewable energy. Today’s announcement by RWE and E.ON isn’t really a surprise. People working in the energy sector have been saying privately for months that it was just a matter of time before they pulled out, because the economics of nuclear didn’t stack up without billions of pounds of subsidy . Building nuclear reactors requires lots of money up front and has a very long payback time, which isn’t a very attractive prospect for investors – as E.ON and RWE admitted this morning . The government is determined to pretend that it’s business as usual , which isn’t a surprise. They’ve been too close to the nuclear ...

Full article: http://www.greenpeace.org.uk/blog/nuclear/energy-policy-t...

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