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EDF wants cash-strapped UK government to subsidise costly Sizewell nuclear plan

Ministers urged to support new nuclear at a critical time for the industry

The energy giant is pressing the case for a plant at Sizewell but backing from a cash-strapped government could be limited, Sky News, Ian King 23 Sept 20,  This is a critical time for the UK’s nuclear energy industry.
The construction of the UK’s first new nuclear power station for a generation, Hinkley Point C in Somerset, is well advanced and EDF Energy, the French-owned energy giant building the plant, is keen to pick up the pace on its next big infrastructure project.

Sizewell C, in Suffolk, is envisaged as a replica project to Hinkley Point C.
..But  The  future of new nuclear build in the UK has again been thrown into doubt by last week’s decision by Hitachi, the Japanese company, to abandon the Horizon project – which would have seen new nuclear power stations built at Wylfa Newydd on Anglesey and at Oldbury on Severn in south Gloucestershire.
Meanwhile, a cash-strapped government is unlikely to want to provide the financial support that its predecessors have given Hinkley Point C, under which EDF Energy was guaranteed a minimum price of £92.50 per megawatt hour (MWh), inflation-linked, for 35 years.
Under the contract, signed by David Cameron’s government, the government pays the difference between the wholesale energy price and the price it has guaranteed EDF Energy……………….

September 26, 2020 - Posted by | business and costs, politics, UK

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