“EDF boss Vincent de Rivaz once boasted that the British would be cooking their Christmas turkeys using power from Hinkley Point by 2017. But many believe it is the project itself that is the turkey.
‘I doubt there is anyone outside EDF who would support this project the way it is structured,’ said an executive at another energy firm.
Much criticised is the guaranteed minimum price of £92.50 per megawatt hour, which the Government agreed consumers must pay EDF for the electricity generated by the new reactors at the Somerset site.
That is far higher than the wholesale price of electricity, which this weekend was £37 per megawatt hour. As long as the wholesale cost of energy is lower than this so-called ‘strike price’ consumers will make up the difference with higher bills.
Another energy source said: ‘Look at the burden on our own customers that Hinkley Point results in. We are going to get the blame for that. ‘Inside the industry we’ve stopped referring to it as Hinkley Point. We all call it What’s The Point?
‘We’re thinking of getting together and sending Vincent a turkey – just to make sure he gets the message.’
East Devon Watch 