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The prime minister promised to look into it,” Hain told the BBC. “Government support is an absolute pre-requisite for getting the whole project underway. Not a penny of taxpayers’ money would be needed for this £30bn investment, which would be transformative for Wales … Several sovereign wealth funds have already expressed interest in financing the £30bn project, as long as government signals its support in principle, provides authorisation in the form of a Hybrid bill, and stabilises the electricity price for 25-30 years through a feed in tariff, ‘Contract for Difference’, or similar mechanism. It is worth noting that after 25-30 years, when the price support drops away, the barrage will produce electricity virtually for free for at least another 90 years
And electricity virtually for free for at least another 90 years ! How’s that, Peter – you propose it be given away ? Your sovereign wealth chums may have a different scheme in mind.
Oh – and an entertaining tussle ahead between the highly-paid orange lobbyist and the wildlife/natural habitats camp, I should imagine.
ND
2012-08-27 05:49:57
Source: http://www.cityunslicker.com/2012/08/peter-hain-was-never-to-be-trusted.html