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UK pension funds and other investors not keen to invest in Sizewell nuclear power project?

UK government to invest £1.7bn in Sizewell C nuclear power station. British taxpayers will make a final investment in the planned Sizewell C nuclear power plant project over the next three years as the government is resuming its struggling efforts to replace the country’s aging reactors. Funding is included in Wednesday’s budget, following the minister’sannouncement this week to review the new nuclear power plant funding model.

Prime Minister Rishi Sunak did not mention Sizewell C in his budget speech Wednesday. However, an accompanying Treasury document has “active negotiations” with EDF on the plant and “up to £ 1.7 billion in direct government funding to help reach a final investment decision before the next election. State funding accounts for a significant proportion of the estimated £ 20 billion.

The government hopes that its financial involvement in Sizewell C will help encourage outside investors to provide
additional funding as expected. The minister wants to attract investors from the UK, the United States, etc. to help finance nuclear reconstruction before the existing reactors retire by 2035, but analysts are questioning how pension funds and others are enthusiastic about investing.

 FT 27th Oct 2021

October 30, 2021 - Posted by | business and costs, UK

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