nuclear-news

French company EDF getting anxious and urgent about UK getting funding for Sizewell C nuclear project.

EDF chief urges UK to clarify future of nuclear power station
French group wants ‘urgent” decision by British government on whether China’s CGN has a role,  Ft.com Nathalie Thomas in Edinburgh and Jim Pickard in London, 3 Oct 21,

EDF has warned that it is now “urgent” for the UK government to decide on the future of the £20bn Sizewell C nuclear power station, including whether China’s CGN should remain involved in the project.

Simone Rossi, head of the French utility’s UK arm, is hoping to take a final investment decision by the end of 2022 on the nuclear plant earmarked for Suffolk on England’s east coast, which would generate enough electricity for 6m homes but is strongly opposed by environmental groups.

Before EDF could commit to building the plant, Rossi said it needed UK ministers to settle matters such as which partners were involved and legislation on the preferred funding model.

……………all but one of Britain’s current fleet of nuclear power stations will close by the end of the decade. The first new nuclear plant in a generation, Hinkley Point C in Somerset, which is being built by EDF, will not start electricity production until 2026, while questions remain over the future of several other proposed sites.

EDF is keen for a swift government decision on Sizewell so it can transfer workers from Hinkley. Sizewell will use the same reactor design as Hinkley. State-owned CGN holds a 20 per cent stake in Sizewell, and has an option to participate in the construction. EDF holds the remaining 80 per cent. Rossi said CGN’s continued participation in the project was “a matter for the UK government to decide”.

. EDF has warned that it is now “urgent” for the UK government to decide on the future of the £20bn Sizewell C nuclear power station, including whether China’s CGN should remain involved in the project. Simone Rossi, head of the French utility’s UK arm, is hoping to take a final investment decision by the end of 2022 on the nuclear plant earmarked for Suffolk on England’s east coast, which would generate enough electricity for 6m homes but is strongly opposed by environmental groups.

Before EDF could commit to building the plant, Rossi said it needed UK ministers to settle matters such as which partners were involved and legislation on the preferred funding model. “I think really the time is now for all those decisions to coalesce together and say right: ‘Do we want to do it or not?’ And if we want to do it how are we going to do it?” Rossi told the Financial Times. “This is all now urgent.”

 ………. while questions remain over the future of several other proposed sites. EDF is keen for a swift government decision on Sizewell so it can transfer workers from Hinkley. Sizewell will use the same reactor design as Hinkley. State-owned CGN holds a 20 per cent stake in Sizewell, and has an option to participate in the construction. EDF holds the remaining 80 per cent. Rossi said CGN’s continued participation in the project was “a matter for the UK government to decide”. The Financial Times reported in July that ministers were examining ways to remove CGN from UK nuclear projects following a deterioration in relations between London and Beijing over issues including the clampdown on dissent in Hong Kong. UK officials are considering plans for the government to take on CGN’s 20 per cent stake in Sizewell and either sell the shareholding on to institutional investors or float it on the stock market. ……… https://www.ft.com/content/7c3a4e77-9889-43b4-a7fa-1bbb5b6bd985

October 4, 2021 - Posted by Christina Macpherson | business and costs, France, politics international, UK