Hitachi, UK say no decision taken on British nuclear project

By Susanna Twidale and Makiko Yamazaki

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Would be happy personally if they choose to pull the plug on this project. Wrong technology for the job, and too high a risk factor if there were an accident not to mention the long lived highly radioactive waste that will be generated across the lifetime of the reactor which Hitachi will not have to pay for but lumber the tax payers with (privatising profits but socialising cost/risk again).

Greenpeace are only partially correct, there are not many sites economically viable for renewable energy projects left that have not already been used, what are left are marginal or non viable without ongoing state subsidy. It also ignores the inherent need with renewable energy sources for a base load capacity for when the wind don’t blow and the sun don’t shine. Currently supplied by fossil fuels. Nuclear can be a valid solution for this but not this dirty and intrinsically old and inefficient technology which only “burns”about 5% of the available fuel leaving highly radioactive fuel rods needing reprocessing to remove waste some of which has very long half life, not to mention irradiating the structure leaving a long term problem when it comes to decommissioning which Hitachi won’t be paying for.

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The Pound/Yen rate isn't so favorable at present for long term returns, particularly given a Hard Brexit would potentially see if going to the depths not seen before. So, any savy overseas investor to the UK is probably right now, holding back from committing, whilst perhaps at the same time, looking at timing for a good FX option, or simply hard cash transaction should Brexit fall apart.

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