The Greenpeace critique of the bail out options
Publication date: September 2002
Summary
For a company so deeply dependent on nuclear power generation it is not surprising that British Energy is in severe financial difficulties.
- The privatisation of electricity production and liberalisation of the markets has publicly exposed the economic failure of nuclear power. Firstly BNFL, now British Energy.
- Inherent technical and safety problems of nuclear power have resulted in a history of shutdowns and closures, most recently at Torness, which provides 13% of British Energy's capacity.
A bail out strategy is not inevitable and the comparisons with Railtrack are misleading. British Energy is not a monopoly and the lights will not go out if the company goes under.
Greenpeace believes any further Government subsidies and bail outs on failed nuclear power stations will be more money down the drain, a distortion of the electricity markets, and based on dubious legality.
