Cameron's great white elephant
Aug 12, 2015
Bishop Hill in Energy: nuclear

Nuclear power is in the news at the moment. The Japanese have switched on a nuclear power plant for the first time since Fukishima, as the authorities realise the full cost of their knee-jerk reaction to the tsunami. Here in the UK, there is a growing concern over the cost of Hinkley Point, a project that increasingly resembles a fiscal black hole.

However, less commented upon have been a few apparently small developments in the nuclear market that may make for a better future for the industry.

Firstly, a US developer of small modular nuclear reactors has given regulators the heads-up that it will submit its first designs next year, ahead of possible deployment in 2023. An array of competitors are working on similar timescales and, encouragingly, regulators seem to be responding constructively too, aiming to have the new rulebook in place in time to keep the commercial operators moving forward.

Meanwhile (if somewhat less credibly), Revkin is looking at a claim that we could have nuclear fusion on stream in a decade.

If all goes to plan it is quite conceivable that Hinkley C could be a white elephant before it is even completed.

 

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