We told you so

Around the time of last year’s annual meeting, some four months ago, a SONE committee member, Gerald Clark, made what was regarded by some (but not me) as an outrageous suggestion. He argued that the UK Government should consider investing directly in the nuclear energy industry. This month we learned that the Government is now thinking of doing just that, even though some of the more hidebound Treasury analysts don’t like the idea.

Gerald’s case for State investment, reported at some length in the November Newsletter, flew in the face of the received wisdom that it was for the privatised electricity utilities to make the investments needed if the nuclear renaissance was to happen and for the Government to keep out of it. Until comparatively recently we appeared to have surplus generating capacity so it was felt that there was no real pressure on the Government to invest on power stations which would take a long time to build. That is not the case today.

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