Setbacks in bringing in new nuclear power means energy supply is not coming online fast enough, and could cause an energy security crunch point in 2028.
According to a new independent report by Public First, Mind the gap: Exploring Britain’s energy crunch, commissioned by power generation business Drax Group, the next government will need to take action early on to ensure the nation’s lights remain on.
The report predicts that the UK’s demand for power will exceed baseload capacity by 7.5GW at peak times by 2028 – a shortfall equivalent to the power used by more than seven million homes.
A major factor is that Hinkley Point C is facing further delays. Originally set to open in 2023, the UK’s first new nuclear plant in a generation now has an estimated completion date of 2029.
These delays and the inevitable rise in costs is also causing bickering between the French and UK governments about who should pay. Energy firm EDF, which is wholly owned by the French government, owns a major stake...