Ok, so the Chinese aren't paying EDF £30 - that is the total worth of trade deals struck between the two countries - but they are paying in around £6bn of the expected £18bn cost of Hinkley Point C.
At least two other nuclear power plants are expected to built later, at Sizewell and Bradwell. Cameron has 'promised' that somewhere in the region of 25 thousand jobs will be created out of this nuclear deal, and with a third of the cost of the build being fronted by the Chinese, we're onto a winner... Right?
Hold your horses, there champ!
There are a few problems with this deal, and they are pretty sizeable issues too. Firstly, it is being said that this is a direct threat to national security. I'm not actually even going to count that one, and it's only here because it's worth touching on for a moment - if only because others have mentioned it, and some balance is called for.
Firstly, bollocks. Big ones. Do you remember rule #1 when reading anything put out by 'popular' media? Read it once, look for the angle, then read it again.
When I say 'look for the angle', what you should you be thinking is 'who gains the most by rubbishing a deal, or spouting scare tactics?'. It becomes especially suspicious when only one side is being presented, or just one news source (even one country, or like minded groups of countries - as with the whole West Vs Russia bullshit parade) is making these claims.
Now, I'm not saying China are without blemishes - these fuckers have form, and a lot of it - but to immediately jump to industrial espionage, just because it's your country doing the deal... It's a bit of a stretch. China has been in trade negotiations all over the place recently, and there is only ever flashing lights and sirens when a western nation is involved. Funny that.
The angle then, what is it? Well the US are pretty pissed with China right now, because of all this hacking malarky, so it would come as no great shock if they got a bit flustered at this nuclear agreement announcement. Doing trade with their 'enemy', and extremely profitable trade at that? How very dare we.
I'm not saying the US is planting seeds over here, but it wouldn't be the first time would it - and they've done far, far worse...
The Emperor isn't wearing any clothes
Sorry, it's 'President' these days isn't it? Anyway, it would seem that this whole nuclear deal may not even get off the ground.
The two new nuclear power plant designs being put forward for construction here in the UK...
... Don't actually exist. In the case of the latter, construction started almost 2 years ago, in December 2013, and has been plagued by safety concerns from that day to this. With delays, followed by delays, it doesn't seem that likely we will ever see fully functional Chinese designed plants here in the UK before the 2025 deadline - not if they still need to built and tested in China first.
Still, if they really want to throw £6bn up the street, who are we to stop them?
Oi, EDF, come double your money - come get it while it's hot!
Another bone of contention, and one that Cameron really fucked up on, is guaranteeing EDF an electricity price. Right now, wholesale energy is worth around £45/Mwh. Cameron, however, in his infinite wisdom has promised EDF a price of £92.50/Mwh.
What does this mean? Whatever the cost actually ends up being, EDF will be paid the difference between the actual cost and the promised rate of £92.50/Mwh.
If, for instance, the rate remains at £45/Mwh then they will receive an additional £47.50/Mwh. Where will this extra money come from? You. In essence, your energy bill is set to potentially double.
But hey, gotta love all those extra jobs though right? Let's hope they are paid enough to keep their own lights on, and everyone else gets a pay rise!
So, what do I think of the deal? I'll believe it when I start seeing three-eyed fish in the Manchester Ship Canal.
No comments:
Post a Comment