Stop ‘squandering money’ on low carbon projects, says Tim Yeo

Chairman of New Nuclear Watch Europe urges Dieter Helm to focus on ‘value for money’

Professor Dieter Helm’s cost of energy review should “stop money being squandered on expensive low carbon projects” and “focus on technologies which offer value for money,” according to chairman of New Nuclear Watch Europe and former chairman of the energy and climate change select committee Tim Yeo.

In a column for Utility Week, Yeo welcomes Helm’s review of costs across the energy value chain, saying: “Hopefully this will expose the folly of costly consumer funded subsidies for offshore wind and frailties in the capacity market which is boosting investment in polluting diesel generators.”

He suggests Helm should also “urge ministers to stand up to opponents of fracking.”

Yeo, who founded New Nuclear Watch Europe in 2014, argues: “A dose of common sense is needed for nuclear which is the only low carbon technology capable of providing reliable baseload power at scale.”

Read Tim Yeo’s full column here

Author: Ellen Bennett,
Channel: Policy & Regulation , Finance & investment

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