Britain Says No Subsidies for New Nuclear Plants

In a good decision, Britain has said they back the idea of developing new nuclear plants in the country but there will be no government subsidies to spur them on.

It's about time governments start backing off their addiction to spending and allow the market to decide how to proceed.

The new government in Britain, represented by the coalition between the Conservative and Liberal Democrat parties, said concerning subsidies of nuclear plants, “There is absolutely no disagreement between us on the key point that there will be no public subsidy.”

The government said that companies looking to replace the aging reactors have the go ahead, they'll just have to find the funding themselves. It's up to companies like E.ON AG, Electricite de France SA and Centrica Plc, who have expressed interest in the projects, to come up with plans to develop the nuclear plants on their own.

British consumers had to pay an additional 11 percent on their electricity bills because of past subsidies for the nuclear industry, and it would be a nice surprise to see private companies produce the energy while cutting back on costs.