Stop Hinkley Protesters
Lobby Centrica AGM

Over 20 people including Stop Hinkley members lobbied shareholders at last Friday's (11 May2012) AGM of energy company Centrica in London asking them not to invest in Hinkley C. Carrying a banner reading “Don't Invest in Risky Nuclear Power” they handed out leaflets warning of the financial dangers involved.

The Financial Times had already reported that Centrica was threatening to pull out of the deal in which it would take up to a 20% stake in Hinkley C, mainly due to uncertainty over government financial support.

Stop Hinkley member and Centrica shareholder, Sue Aubrey, was able to ask a question during the meeting asking for an assurance from the board of directors that they “are not going to get involved in this dangerous and risky proposal.”

She pointed out that nuclear power has always proved more expensive than expected, that the cost of building the Hinkley C reactors had reportedly escalated by 40% to £14 billion and that the accident at Fukushima in Japan could cost $250 billion for clean-up and compensation, leaving the company operating those reactors on the verge of bankruptcy.

The chairman of the meeting responded that the company was still considering whether to invest but it depended largely on how much financial support they would receive from the government. This exchange was reported in the following day's Daily Telegraph (see http://www.telegraph.co.uk/finance/newsbysector/energy/9261237/Centrica-shareholders-revolt-against-executive-pay.html

 

 

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Page Updated 15-May-2012