nuclear-news

‘Will they, won’t they – great uncertainty over government go ahead for Sizewell C.

It has been a day of mixed messages with reports in the national press and on the BBC that government funding for Sizewell C may be axed being contradicted by a statement issued from the Prime Minister’s office.

The Nuclear Free Local Authorities would sincerely like the costly Suffolk white elephant culled and the money spent instead on insulating cold and damp British homes to reduce energy demand and lower fuel bills. In a letter to Jeremy Hunt MP last month, the organisation urged the Chancellor to ‘leave Sizewell C well-alone’ and to withdraw from the £700 million commitment made by outgoing Prime Minister Boris Johnson and from the concordat agreed between Prime Minister Truss and President Macron to each take a 20% stake in the project.

As the estimated cost to completion is at least £30 billion, this represents a tremendous commitment of taxpayers’ cash, and there is considerable doubt over whether operator EDF Energy, already in huge debt, will be in a financial position to complete the plant or if private-sector players will step in to take the remaining 60% share. Nuclear power projects are notorious for being delivered late and massively over budget so the risk is great that Sizewell C will represent both a lumbering folly and a financial bottomless pit for beleaguered consumers, who would have to pick up the tab through a ‘nuclear tax’ levied through electricity bills.

For the NFLA then, there was great disappointment when in his response to the letter, Climate Minister Graham Stuart, said that ‘commercial discussions have been constructive but are ongoing, and no decisions have been made’ and in a statement made today, a spokesperson for the Prime Minister said ‘Britain’s Sizewell C nuclear power plant project is not being scrapped and negotiations on its funding are progressing’.

So optimistic noises that the project is on track, but there has been speculation that there is an ongoing internal conflict between Whitehall mandarins in the Treasury and the Department of Business Energy and Industrial Strategy as to whether Sizewell C should be in the mix as a project that must be cut alongside HS2 and the Northern Powerhouse Rail as part of the government’s plan to reduce the deficit by £35 billion as Britain enters a new recession.

For the NFLA then, there was great disappointment when in his response to the letter, Climate Minister Graham Stuart, said that ‘commercial discussions have been constructive but are ongoing, and no decisions have been made’ and in a statement made today, a spokesperson for the Prime Minister said ‘Britain’s Sizewell C nuclear power plant project is not being scrapped and negotiations on its funding are progressing’.

November 3, 2022 - Posted by Christina Macpherson | politics, UK