The Disappearing Market for Nuclear Electricity-Report
- Published: Saturday, 17 November 2012 21:30
By the time any new nuclear power station could be built in the UK (2020 or later), the market for its electricity will be disappearing-because of explosive growth in photovoltaics (PV) and because consumers will be able to buy electricity from anywhere in Europe. This is one of the conclusions of a report by the Energy Fair group.
The falling cost of photovoltaics (PV) will lead to a booming market for solar panels, generating large amounts of power during the day when the demand for electricity is greatest. And there will be stiff competition from wind power and other renewables that work at night.
The likely completion of the European internal market for electricity and strengthening of the European transmission grid will enable consumers, including large commercial and industrial consumers, to buy their electricity from anywhere in Europe.
"The disappearing market for nuclear electricity means that there is absolutely no case for subsidising nuclear power with 'contracts for difference' or any other subsidy," said Dr Gerry Wolff of Energy Fair. "If the Government presses on with that policy, we may be saddled with expensive nuclear white elephants that will be paid for by consumers for 25 years or more. This would be worse than the PFI fiasco or the debacle of the West Coast Main Line."