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Electricite de France (EDF) will not proceed with Sizewell nuclear project unless the UK govt institutes tax – the Regulated Asset Base

 Stop Sizewell C denounces the government’s announcement today of legislation for a new tax on consumer energy bills to help build nuclear power stations such as Sizewell C. The Regulated Asset Base (RAB) model would transfer substantial upfront costs, and considerable risk, onto consumers already struggling with rising energy bills and other tax

Developer EDF Energy estimates Sizewell C – which does not have planning consent and may never get it – would cost at least £20 billion and has made no secret that the project could not proceed without a RAB. The announcement is clearly earmarked for large-scale nuclear projects, as Rolls Royce says it doesn’t anticipate using RAB for Small
Modular Reactors. The government is moving with extreme haste, with the second reading of the bill tomorrow.

 Stop Sizewell C 26th Oct 2021

October 29, 2021 - Posted by | business and costs, politics, politics international, UK

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