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UK government ‘s announcement was NOT yet a funding decision for Sizewell C nuclear, just an exclusion of China from the project

 Steve Thomas: The UK government’s announcement of November 29, 2022 on
funding the Sizewell C nuclear power project was widely reported as a
decision to invest in the plant and to complete the exit of China General
Nuclear (CGN) from the project.3

However, close examination of the press
releases by the Government4 and by EDF5 suggest it was no more than the
long-anticipated buying out of China General Nuclear from the project and
funds to allow the development of the project to the point of a Final
Investment Decision (FID).

The budget set up by EDF and CGN to fund this
phase of the project appears to be spent and new funds were needed if the
project was not to stall. Nevertheless, this announcement has important
implications not only for the Sizewell C project but also for the Hinkley
Point C and Bradwell B projects and for the nuclear stations expected to
follow Sizewell C.

 Stop Sizewell C 12th Dec 2022

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December 13, 2022 - Posted by | politics, UK

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