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Sizewell C nuclear project now becoming prohibitively expensive?

NS Energy 27th May 2020, EDF has predicted the cost of Sizewell C will be 20% lower than Hinkley Point C – which is set to cost about £20bn ($26bn) – because of the similarities between the stations and established infrastructure. But in an interview with The Times in April 2018, the company’s UK chief executive Simone Rossi questioned whether the project would remain “feasible” without faster progress being made at the Hinkley Point C site – which has suffered from rising costs and delays – and a government guarantee.

The firm is still talking with the government about workable funding models that can convince it to stay at the table. Speaking about the possibility of no functional funding model appearing, Mr Rossi said: “This is the year where we need to understand whether this whole thing is really
feasible or not. “If we were to conclude that maybe it’s not feasible, then at that point maybe we say we are not in a position to continue the project.” In January 2020, it was reported that EDF was running out of time to secure a funding deal before the project became prohibitively expensive.

May 30, 2020 - Posted by | business and costs, politics, UK

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