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Will nuclear power drive energy bills up?

Yes, says npower boss.

paul massara, CEO of REW npowerRWE npower, has warned the government that energy bills need to “ensure that the UK’s future energy supply is not only clean and secure but also affordable”.

In a press release, RWE CEO Paul Massara argued that, although the UK must source cheaper energy, this should not mean a ‘blank cheque’ is written for nuclear projects.

“RWE npower recognises the need for Britain to have modern, efficient energy infrastructure with a diverse mix of technologies fit for the 21st century to ensure our economy can grow and compete globally – but this must happen at the lowest possible cost to the consumer.”

However, he went on to outline his concerns that Britain’s reliance on nuclear will land consumers with a hefty bill:

“We are very concerned that decisions currently being taken around guaranteed revenue from new nuclear power stations in return for their delivery could force the next three generations of British consumers to pay an unexpected and perhaps unnecessarily high bill for the next 40 years, especially given the track record of delivery of nuclear power stations.”

Both RWE npower and E.ON sold their interests in building two new nuclear power stations, whilst Centrica, parent company of British Gas, announced that it too will not proceed with its plans to build new nuclear reactors, withdrawing from two proposals in Suffolk and Somerset.

 The news comes as Ofgem warns that energy prices in the UK will continue to rise as power station closures force Britain to rely on imports.

“The UK is committed to moving to more renewable electricity production and to building new nuclear power stations to replace the old ones that are coming to the end of their life,” said chief executive Alastair Buchanan.

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