Bad news from Britain. Let’s hope U.S. NRC doesn’t take this as a precedent.
The Telegraph, today, Chinese companies to buy big stake in next generation of British nuclear power,
The decision could lead to China taking a future majority stake—and even be allowed to own up to 100 pc—in the development of the next generation of British nuclear power.
Mr Osborne made the announcement on Thursday the last day of a week-long trade visit to China after a visit to Taishan nuclear power station on the coast near Hong Kong.
Taishan is a collaboration between French energy company EDF and the China General Nuclear Power Company.
EDF is at the heart of UK Government hopes for developing new British nuclear capacity. Negotiations on a deal to build a new plant at Hinkley Point in Somerset have reached the critical stage, though it does not come under this new majority-stake arrangement.
EDF is the French nuclear company that supposedly has exited nuclear power in the U.S., although U.S. NRC continues a process that may allow more foreign nuke ownership including for EDF at Calvert Cliffs in Maryland.
Mr Davey said last weekend that the Government is “extremely close” to finalising terms for the £14bn programme to build twin nuclear plants at Hinkley Point, Somerset.
The Government was thought to be on the verge of completing a heavily-subsidised agreement to revive nuclear power development in Britain via a deal with state-owned French and Chinese companies.
Maybe Brussels will have more sense:
The Government could, however, face difficulties on the subsidy issue when it seeks clearance from Brussels for the Hinkley deal.
EU regulations bar direct state aid. Moves to relax the rules by introducing guidelines have been blocked by France, Germany and other states . The Government hopes the Hinkley deal will provide the framework for other nuclear power projects under discussion.
Yep, we’re down to depending on Brussells and the NRC. Pretty sad. Maybe we should do something about that.