The investments will, among other things, hook up new wind farms and nuclear power stations to the electricity grid to replace traditional coal-fired power stations, and enable more liquefied natural gas imported from Qatar and elsewhere to be added to the gas network as North Sea gas supplies dwindle.

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Areas that are predominantly coal or nuclear will be insulated from this to some extent because the grid can only handle so much demand with certain facilities shut down or retired.

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Even with all of the production tax credits, loan guarantees and a battery of other direct and indirect subsidies, nuclear power remains the most expensive source of conventional electricity on the grid once capital costs are plugged into the equation.

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