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« Vintage Wine Turns Sour for Financiers | Main | Victor Goncalves: Fundamental Shifts on the Horizon for Energy »
Thursday
Feb042010

Britain Faces the Prospect of Blackouts

Ofgem.JPG

We draw to your attention an interesting report which appeared in the Daily Mail regarding the bleak future for the UK unless they spend two hundred billion pounds

Britain faces the dire prospect of blackouts and higher bills in the years ahead unless radical action is taken.

Today's stark message from energy regulator Ofgem came with the warning that many people would struggle to pay power bills of up to £2,000 a year.

Setting out its plans for safeguarding Britain's power supplies, Ofgem warned that sticking with the current market was 'not an option'. he regulator said the industry needed £200bn of investment by 2020 but

In its report, which took a year to complete, it said the financial crisis, increasing gas import dependency and the closure of aging power stations demands far-reaching energy market reforms to meet tough environmental targets and keep the lights on.

One of the options recommended by Ofgem is as follows:

4)Subsidise new nuclear power plants. The government has so far refused to help pay towards their construction. But it may be preferable to pay out as the alternative is higher energy bills for the taxpayer.

To read the report in full please click here.

As it takes eight to ten years to build nuclear power plant the UK is now up against it. Obtaining the permits will be a battle on its own, it took six years to get planning permission for an extra runway at Heathrow airport, anybody care to take a punt at just how long it will take to get planning permission for a NUKE?


Have a good one.


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Reader Comments (1)

Well... At least it means the environmentalists which have been blocking the development of just about all forms of energy development in the recent decade will finally be thrown up against the fruits of their efforts to suppress covilization when they are planning their next assualt on a bill with candles. Oh. That's right, the bees are abandoning the UK as well so no candles....

February 5, 2010 | Unregistered CommenterSally

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