In a bit of a mahoosive U-turn, it looks like the UK government's going to invest in another nuclear power station – but they promise this time it'll be cheaper.
What it means: Last time the government invested in nuclear power at Hinkley Point C, it didn't go so well. Long story short is that the contractor, EDF, bore all the risks in exchange for UK customers paying the price – and it's reeeal pricey.
This time it's different, they said. The UK will be taking a £5bn stake in a new nuclear power station, together with a Japanese business and some government agencies. It'll be up and running by the mid 2020s, generating low carbon power for 5 million homes and creating thousands of jobs.
Sounds nice enough, and both unions and the energy industry have welcomed it – more jobs, lower carbon power generation, and government funds borrowed at low interest to finance it all.
But people have questions. It'll cost £75 per megawatt hour, which is cheaper than the last nuclear power station but still more expensive than, for example, offshore wind. Also, the government's been making cuts across public services in other areas, so some are going to be wondering where the £16bn came from to make this investment.
Read the full story: The Guardian
