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Bruce Greig
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Luis, China is one member of consortium building Hinckley Point C. The consortium will get a guaranteed (high) electricity price from the Gov't for some very long period of time (35 years?). Reports have quoted the guaranteed price of about £90/Mwh as being double the current wholesale price of electricity. It does guarantee the consortium roughly double the total cost that they will incur in building, runnning and decommisioning the plant over its entire life. (EDF's early investment presentation showed total costs of £45/Mwh spread over the life of the plant: So we aren't borrowing money in the sense that we have to pay them some money back with interest. But we are still using their capital, and paying them a very high return on that capital. Much higher than if we'd simply borrowed the money (from China or anyone else) by issuing government bonds.
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Oct 23, 2015