Will future Nuclear power plants mean lower energy bills for Consumers?
Yesterday the BBC has announced that French energy giant EDF, have been given the go ahead by UK Government, to build a nuclear power plant in Somerset. The work will start this year; however will not reach completion for at least 10 years, meaning the first of the two reactors to be built on the site, will be open from 2023.
Prices Set to Soar
This comes as news of increasing energy prices are set to soar. As of this month, British Gas, SSE and Npower, have all advised that a rise in energy prices of between 8-10.5% can be expected. This is a direct result of various price increases, from delivering power to homes, government schemes and a price increase in fuel. According to government, the building of proposed nuclear power plants in the UK will mean that by 2036 your energy bill will decrease by an average of £77.
With an increase in energy prices – which will no doubt occur each year due to the aforementioned – and with no decrease in the cost energy bills for the consumer from the nuclear power plants, at least for another 23 years, there is still an immediate problem of costly energy bills prices in the UK for both domestic and industrial heating and electricity users.