%PDF-1.3 1 0 obj << /Type /Catalog /Outlines 2 0 R /Pages 3 0 R >> endobj 2 0 obj << /Type /Outlines /Count 0 >> endobj 3 0 obj << /Type /Pages /Kids [6 0 R ] /Count 1 /Resources << /ProcSet 4 0 R /Font << /F1 8 0 R /F2 9 0 R /F3 10 0 R /F4 11 0 R >> /XObject << /I1 14 0 R >> >> /MediaBox [0.000 0.000 612.000 792.000] >> endobj 4 0 obj [/PDF /Text /ImageC ] endobj 5 0 obj << /Creator (DOMPDF) /CreationDate (D:20180419112142+00'00') /ModDate (D:20180419112142+00'00') /Title (Report 04-2018) >> endobj 6 0 obj << /Type /Page /Parent 3 0 R /Annots [ 12 0 R ] /Contents 7 0 R >> endobj 7 0 obj << /Length 3261 >> stream 1.000 1.000 1.000 rg 45.266 211.983 521.469 534.751 re f 0.773 0.773 0.773 RG 0.75 w 0 J [ ] 0 d 45.641 212.358 520.719 534.001 re S 0.773 0.773 0.773 rg 61.016 227.733 m 550.984 227.733 l 550.984 228.483 l 61.016 228.483 l f 0.000 0.000 0.000 rg BT 61.016 695.342 Td /F1 13.5 Tf [(One thing we have learnt this week Hinkley Point C)] TJ ET 0.400 0.400 0.400 rg BT 61.016 666.755 Td /F2 9.0 Tf [(Posted on )] TJ ET BT 104.045 666.755 Td /F3 9.0 Tf [(June 23,2017)] TJ ET BT 160.079 666.755 Td /F2 9.0 Tf [( by )] TJ ET BT 174.587 666.755 Td /F3 9.0 Tf [(admin)] TJ ET q 225.000 0 0 225.000 61.016 423.057 cm /I1 Do Q 0.000 0.000 0.000 rg BT 286.016 468.057 Td /F4 9.0 Tf [(Hinkley Point C is bad value for money say the National audit )] TJ ET BT 61.016 414.266 Td /F4 9.0 Tf [(office \(NAO\). Everyone part from the nuclear industry and possibly the government know this is true but its nice to have it )] TJ ET BT 61.016 403.277 Td /F4 9.0 Tf [(confirmed. Its criticisms fall into a number of areas. First the government has only considered the electricity costs up till )] TJ ET BT 61.016 392.288 Td /F4 9.0 Tf [(2030 when the strike price \(guaranteed price for the electricity\) is being paid long after. Second, the strike price is too )] TJ ET BT 61.016 381.299 Td /F4 9.0 Tf [(high. With improved renewable costs which are constantly falling means power from Hinkley Point C will be too )] TJ ET BT 61.016 370.310 Td /F4 9.0 Tf [(expensive. Third, they are rightly worried that costs will increase and eventually the taxpayer will have to step in to rescue )] TJ ET BT 61.016 359.321 Td /F4 9.0 Tf [(the project. Somewhat at odds with this argument they say that the government should have taken a stake in Hinkley )] TJ ET BT 61.016 348.332 Td /F4 9.0 Tf [(Point C as this would have reduced the costs by borrowing costs being lower. I disagree with this last point. Whilst they )] TJ ET BT 61.016 337.343 Td /F4 9.0 Tf [(could be right on costs in some ways, the project is so likely to require a bailout that the taxpayer could have been left with )] TJ ET BT 61.016 326.354 Td /F4 9.0 Tf [(a very difficult decision \(and may still be\). The Nuclear Industries Association were interviewed on the BBC Radio 4 today )] TJ ET BT 61.016 315.365 Td /F4 9.0 Tf [(this morning. The head of this organisation said that when the decision was made the costs of renewables and other )] TJ ET BT 61.016 304.376 Td /F4 9.0 Tf [(sources were more expensive. Possibly true. This however takes no account of Hinkley Point C cost overruns and the )] TJ ET BT 61.016 293.387 Td /F4 9.0 Tf [(direction of travel with renewables and battery costs falling. National Grid say they have the largest battery program in the )] TJ ET BT 61.016 282.398 Td /F4 9.0 Tf [(world. What was most interesting was that the head of this organisation said that all future reactors should be considered )] TJ ET BT 61.016 271.409 Td /F4 9.0 Tf [(on their cost merits. On this basis its bye bye nuclear. Neil)] TJ ET 0.400 0.400 0.400 rg BT 61.016 252.920 Td /F2 9.0 Tf [(Posted in:Nuclear,One Thing We Have Learnt This Week,Renewables | Tagged:Nuclear Power,Renewable Energy | With )] TJ ET BT 61.016 241.931 Td /F2 9.0 Tf [(0 comments)] TJ ET endstream endobj 8 0 obj << /Type /Font /Subtype /Type1 /Name /F1 /BaseFont /Helvetica-Bold /Encoding /WinAnsiEncoding >> endobj 9 0 obj << /Type /Font /Subtype /Type1 /Name /F2 /BaseFont /Helvetica-Oblique /Encoding /WinAnsiEncoding >> endobj 10 0 obj << /Type /Font /Subtype /Type1 /Name /F3 /BaseFont /Helvetica-BoldOblique /Encoding /WinAnsiEncoding >> endobj 11 0 obj << /Type /Font /Subtype /Type1 /Name /F4 /BaseFont /Helvetica /Encoding /WinAnsiEncoding >> endobj 12 0 obj << /Type /Annot /Subtype /Link /A 13 0 R /Border [0 0 0] /H /I /Rect [ 61.0157 423.0568 286.0157 648.0568 ] >> endobj 13 0 obj << /Type /Action /S /URI /URI (http://www.theoillamp.co.uk/wp-content/uploads/2013/09/th.jpeg) >> endobj 14 0 obj << /Type /XObject /Subtype /Image /Width 300 /Height 300 /ColorSpace /DeviceRGB /Filter /DCTDecode /BitsPerComponent 8 /Length 7321>> stream JFIF``C    $ &%# #"(-90(*6+"#2D26;=@@@&0FKE>J9?@=C  =)#)==================================================,," }!1AQa"q2#BR$3br %&'()*456789:CDEFGHIJSTUVWXYZcdefghijstuvwxyz w!1AQaq"2B #3Rbr $4%&'()*56789:CDEFGHIJSTUVWXYZcdefghijstuvwxyz ?њJ+\њmњmњm4bRsFiS٣4њPiA9jqih.`IТ۲@YFk0wjesÑ[>~*{Ss4{Ȣ2x|toni_틞=&~(b:!eq[V$YFZ¦? |ԗsTMFq=8;C3Mњmfhfhfhfh ZhTBm8j(((ZJ(4ֳwOm ƣrrMyg>/\A<9A]<t&SQ]SZӴX|JuۓMpk8 Mao.$Ic˻OPf ô)Y?uZeߵG ?s3\r姖IؓQP+ܧBjqKͶv}i ֨AEPnpi( m7:ΐٱn">A vO]JU3yrWaĂR[D_-xEuyۤW!'ps_( 8tUbiX&;cWsak}қ\%yYr]wP ˒lT(aEPEPEP)N 6i((()H9(4>v-JkNL/¹k~%\k\['e2 ^^AE~c#.Gy#Ģ+ ((((((pr:W O [JYeב|=IT[{`tU Wq-{x7 _&lQEQEQEMLiƛL((((5.t }M7,tV%>﵉]{)q^SxLBoz?8#*[y-ndd6({TU"wWG(QEQEQEQEQERF3RWkkn.u$|X+ƅ)Ui]?bU2>Q E&9WʽGR[++ + ( ( (Nu&iMEPEPEPEPAEP]ٮ\S{?fk&Aw6WJ 3!R?5B.,.A `7cWmKcgs:(2 ( ( ( (m,IׇmG[W=y OZ: 'os^8EGס(Ťs`((((hR`N4`QEQEQEQEQE%y hkZg գW7kw)rc?\n&8Z2.z+ 1xwA)(9Ƶ 3_ԩ*sgZVZJ(QEQEQEQE u4S0Mm0 ( ( ( ( ( (0%䊊 2@{W|Q!}\q޼;ⷅiڡı$?<=xi_L*ǩQE(\ھJZ1_ʌPQEsLUԭԙg"޾4=Nd57|lHWq7T"+Q_:jQEQEQEQEQEMLiƛL((((((fC:Ɲ0H#u ֘9)E>|>ڥЭ!7ʹq^|% ڄՎ;Ezج]Y>Ud*qFT~]XC*|7zI[)c|J󣉭u7zYr=o:νoX\Y٤ ;־R}dL8m:nogl8"wMɶ4(EPEPEPEPEP)N 6i(((((((RԄ'-yp Z|_eKoƅAek -%䢵=`g2zW͗24#m-Ca h5km5UHќטS]ʖG ?߅zb@e! 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