Share

Nuclear power gets another smack – massive project delayed at the final hurdle

By Alec Hogg

Opponents of SA President Jacob Zuma’s nuclear energy obsession have a fresh ally. Late last week, new UK Prime Minister Theresa May called a stop to her country’s proposed £18bn Hinkley Point nuclear plant at the last possible moment. The latest delay in a project first mooted 20 years ago, could prove terminal.

Mrs May is justifiably concerned about a number of issues. Mostly the cost. Technology is rapidly reducing the delivered price of renewable energy and battery storage – alternatives to the antiquated, expensive and dangerous nuclear options.

The nuclear sector also has a poor reputation. In a Biznews interview last month, anti-corruption crusader Andrew Feinstein likened the billions in bribes paid in SA’s R70bn Arms Deal as chump change compared with the harvest political insiders would enjoy if the nuclear build went ahead.

In that context, Mrs May’s decision makes a lot of sense. Hopefully her lead will be followed elsewhere.

Hinkley_Point_large

* For more in-depth business news, visit biznews.com or simply sign up for the daily newsletter.

Read Fin24's top stories trending on Twitter:
We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.97
-0.3%
Rand - Pound
23.97
-0.3%
Rand - Euro
20.48
-0.1%
Rand - Aus dollar
12.36
-0.1%
Rand - Yen
0.13
-0.4%
Platinum
907.94
+1.2%
Palladium
1,014.30
+1.3%
Gold
2,215.39
+0.9%
Silver
24.91
+1.1%
Brent Crude
86.09
-0.2%
Top 40
68,346
+1.0%
All Share
74,536
+0.9%
Resource 10
57,251
+2.9%
Industrial 25
103,936
+0.6%
Financial 15
16,502
-0.1%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders