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After more than 50 years of massive subsidies, nuclear energy today comes in at twice the cost of onshore wind energy in Denmark a decade ago. The UK government has established that new nuclear plants in the UK will be paid £92.5/MWh - more than a threefold increase compared to what EDF told the public about nuclear cost in 2006.

European Energy Strategy

"On 28 May 2014, the European Commission published its European Energy Security Strategy. "In the long term, the Union's energy security is inseparable from and significantly fostered by its need to move to a competitive low-carbon economy which reduces the use of imported fossil fuels," the first page of the Strategy reads. It is striking that the need to reduce the use of domestic fossil fuels is omitted in a plan for a low carbon economy.

A market of Make Believe

All products operating in it are subsidised beyond imagination; the down-stream supplies are characterised by cartels, environmental free-riders, political influence and more subsidies; and the nature of the infrastructure that carries the product is a natural monopoly. Still, everybody insist on calling it a market.

The European energy market is a market of make-believe(rs).

 

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