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How much does Hinkley Point cost compared to wind and solar? - 16th September

Hinkley

French firm EDF - which is building and running Hinkley Point C - will get a guaranteed £92.50 per unit plus inflation for 35 years.

This is a stable payment for power sources which are hugely costly to build but cheap to run, something that includes wind and solar too.

No matter how high or low the actual wholesale electricity price is, EDF will always get paid £92.50 per megawatt hour (plus inflation).

That makes sure it gets a return on the £18bn EDF will spend building it.

If real energy prices are below £92.50, billpayers will have to pay the difference to the French firm. This is where it could cost £18 per home.

On the flipside, even if real energy prices rise above £92.50, EDF's payments will be capped at that amount. (plus inflation).

Green Party co-leader Caroline Lucas said "It is truly absurd that the Government plans to plough billions of taxpayers' money into this vastly overpriced project, and has done so without informing Parliament of the true costs.

"It is even more absurd that they are doing so at the same time as reducing support for cheaper, safer and more reliable alternatives.

"Instead of investing in this eye-wateringly expensive white-elephant, the government should be doing all it can to support wind energy, energy efficiency and innovative new technologies, such as energy storage.

“Labour’s position on Hinkley is deeply disappointing. On the one hand they say that they want a decentralised energy system, yet they now back the building of this hugely overpriced, centralised piece of energy infrastructure."

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