An arm of the Chinese government is in pole position to be awarded the contract to build and run Britain’s next generation of nuclear power stations.
Other bidders in the running include a Japanese firm that supplied some of the reactors at Fukushima, and a Russian state-owned outfit with links to the Chernobyl disaster.
The Coalition is prepared to back controversial foreign investment on the basis that urgent action is needed to replace Britain’s ageing nuclear reactors, which supply about 16 per cent of the country’s energy needs.
But one MP yesterday said the public would be ‘outraged’ if responsibility for Britain’s nuclear reactors was outsourced to such bidders.
Customers will also face higher electricity bills in order to finance the building of the power stations, according to a draft Energy Bill published today.
This is because the owners will be guaranteed higher prices by the Government in order to ensure they make a profit on their multi-billion-pound investment. Read More