British Prime Minister Theresa May has slammed the brakes on Britain’s £18 billion Hinkley Point C nuclear power station.
It was negotiated in the late, unlamented David Cameron era by the half-wit incompetent Liberal Democrat Energy and Climate Change Secretary Ed (now astonishingly “Sir” Ed) Davey. One analyst described it as “the worst deal I have ever seen.”
Indeed so, as I noted previously:
The current going rate for electricity is £33 per megawatt hour.
But the brilliant deal Davey somehow managed to extract from a naturally very reluctant EDF was to persuade them to accept a modest £92.50 per megawatt hour, inflation adjusted. For those, like Davey, unable to do the maths, that is approximately three times the market rate – over a period of 35 years, paid for of course by the taxpayer.
GW: Maybe Terrie was right on this issue but “stalling” in itself is not a policy. “Stalling” is just another way of showing everyone that you are indecisive.
Comment @ TAP: Many on both sides of the Atlantic will not enter serious and substantive negotiations, until we put our cards (and Article 50) on the table. The Americans have said that. Brussels has said it. We can’t expect major powers to devote time and resource to major trade negotiations on a “What if?” basis. Bite the bullet, Theresa. Make a decision for once. Full Article.. German car dealers are said to want a free trade deal. Well???