The UK’s ambitious program to build more nuclear generating stations will begin with the massive Hinkley Point units. Yet, in a recent paper, Prof. Steve Thomas, a well-known energy economist in the UK, asked a question that had been on our minds, namely is it “Time to cancel Hinckley?” The timing of the paper and ensuing editorials coincided with record low prices for off-shore wind, £57.50 per MWh to be exact. The Guardian newspaper editorialized that this figure should “blow away the UK’s nuclear plans.” First, let’s put the Hinkley Point C nuclear power station in context. The UK government first announced its nuclear power expansion program in 2006. The plan was to build five new nuclear generating stations, producing 16 GWs, to be on-line by 2030. The units planned are at Sizewell, Wylfa, Moorside, Oldbury and Hinkley. At the time the government cited two concerns with respect to […]