In reaction to the Chinese Nuclear Deal, announced today, Association for Consultancy and Engineering (ACE) chief executive officer Dr. Nelson Ogunshakin OBE said:
"It is good news that the Chinese have chosen to invest in the Hinkley Point C nuclear power station, however it is important we do not lose sight that this is important infrastructure for UK and there remain fundamental concerns. Firstly, this is a huge opportunity for the UK to lay the foundations for a new generation of skilled workers and become a world leader in new nuclear technology that can be exported around the globe. We have seen the construction sector blaze a trail in projects like the Olympics and Crossrail, and it is crucial we do not waste this golden chance.
"Secondly, the government must take an even stronger position on why this project is vital and represents good value for money for the public over the long term. Serious questions are already being asked about the agreed strike price*, which could foster uncertainty among investors as well as construction firms, and undermine the whole project. With UK power generation dropping to levels that can only just meet peak demand in the coming years, any further delays would put at risk the country’s reputation and its position in the global economy."
*£92.50 per megawatt hour