Thread by @ShellenbergerMD

High energy prices force factories to close in UK, exposing its over-reliance on gas & renewables

“There is a way out of the bind. Yes, it is expensive, but the alternative, as we are seeing now, could easily be far more costly. We need to go nuclear.”

telegraph.co.uk/business/2021/…

“Even when things do improve, businesses have now been alerted to the fact that the UK is more susceptible to big price spikes than other countries. Wholesale prices have quadrupled, according to UK Steel”

“On Wednesday, CF Industries Holdings, a big fertilizer maker, said it is shutting down its plants in Billingham and Ince because of high natural gas prices. It couldn’t say when production will resume.”

“On Thursday, a number of UK steelmakers were also forced to suspend their operations. Last year, energy prices were roughly £50 per megawatt hour. In recent days, UK businesses have been quoted in the thousands of pounds per megawatt hour.”

“If you wanted to create a top 10 of the worst UK Government decisions over the past half century you’d definitely be spoilt for choice. However, allowing this country’s know-how in nuclear power to atrophy, an area in which we used to lead the world, should certainly be up there

“Part of the problem is hinted at by the number of different types of reactors we have built in this country. We keep trying to reinvent the wheel. We are in very real danger of making the same mistake again.”

See also this excellent @Grepsul

on.ft.com/3CtfKlT

“The Government is understood to be supportive of building Sizewell C, a new nuclear power station in Suffolk, which would be a carbon copy of the one being assembled at Hinkley Point in Somerset. 
However, the Treasury in particular appears to be dragging its feet.”

“Part of the expense has been in establishing the skills and expertise this country scandalously allowed to die out. We now have them again. Yet some workers are sitting idle having completed their tasks in Somerset. We should be wasting no time in putting them to work in Suffolk

“I’ve yet to see a credible alternative that will allow the UK to hit its net zero targets while providing stable baseload power provision this country’s businesses can rely on. 
…The best time to build a nuclear power station was 20 years ago; the second best time is now.”