nuclear-news

UK consumers to start paying for nuclear reactors before they are built

Guardian 23rd July 2019 The government has confirmed plans for consumers to begin paying for new nuclear reactors before they are built, and for taxpayers to pay a share of
any cost overruns or construction delays. In a consultation document
launched on Monday night, officials said the model is “essential” to
attract private investors to back the UK’s new nuclear ambitions at a
price that is affordable for bill payers. The public purse would also
compensate nuclear investors if the project was scrapped. The new funding
structure could be used to prop up EDF Energy’s £16bn plans for a new
nuclear reactor at Sizewell B in Suffolk, which was left in doubt after
fierce criticism of the costs surrounding the Hinkley Point C project in
Somerset.

https://www.theguardian.com/business/2019/jul/23/new-uk-nuclear-plants-government-cost

July 25, 2019 - Posted by Christina Macpherson | business and costs, politics, UK