UK Civil Engineering Contractors Benefit From Nuclear..
UK Civil Engineering Contractors look set to benefit from the construction of the country’s first nuclear power station in over 20-years.
The Government revealed it is to build the plant in Hinkley, Somerset with the help of French-owned EDF and a group of Chinese investors, at a cost of around £16bn. Once completed, the station, which will be known as Hinkley C, will generate enough electricity to power 6m homes. Nuclear energy is seen as a low-carbon form of energy production and of generating low cost power in the future.
UK Civil Engineering Contractors have welcomed the news as the Government has said it is looking for the majority of the power plant’s production to be completed by home-grown firms. In total, around 25,000 jobs in the construction industry are expected to be created during the build and a further 900 once it has been completed.
Many critics have slammed the plans, because of concerns over the safety of nuclear power and over the price of electricity units generated by the plant. The Government and EDF Energy have agreed a price of £92.50 for each megawatt hour produced by Hinkley C, which is currently twice the price of wholesale energy. Prices will then come down if EDF agrees to fund the construction of another nuclear site at Sizewell in Suffolk.
Secretary of State for Energy, Edward Davey said of the agreement: “This is an excellent deal for Britain and British consumers.
“For the first time, a nuclear power station in this country will not have been built with money from the British taxpayer.”
“This deal is competitive with other large-scale clean energy and with gas – and while consumers won’t pay anything up front, they’ll share directly in any gains made from the project coming in under budget and from refinancing or equity sales.”
It not yet known which UK Civil Engineering Contractors will be bidding on the power station’s construction.