UK government announces new nuclear power facilities

The UK government has today confirmed plans for eight new nuclear facilities across the country but surprisingly these ventures will be taken on by the private sector. In what is a long-term cost reduction programme the UK government has announced that the new expanded nuclear program will be administered by the private sector and ultimately reduce any liabilities in the short term for taxpayers. However, will the long-term liabilities also disappear for UK taxpayers?

There is concern that the UK government will eventually foot the bill for nuclear cleanups in the future despite the fact it is looking to transfer ownership and management of this project to the private sector - with UK taxpayers at least relieved of the initial investment required. However, when you look back at nuclear power in the UK the cost to cleanup old nuclear plants has been well in excess of the initial investment required to build and operate these ventures.

This also comes at a time when the UK government had initially been very keen on green energy but has today announced the cancellation of a £30 billion green energy venture across the Severn estuary. Quite how the government can justify a reduction in green energy investment yet still maintain that it is looking for cleaner, greener and cheaper energy in the future is a mystery.