nuclear-news

Sizewell C funding decision may not be made this year

19 July 2024, Ben Parker & Alice Cunningham,  https://www.bbc.com/news/articles/c2x0k87z400o

An investment decision into Sizewell C in Suffolk may not be made this year by the new Labour government.

The previous Conservative-led government said it would secure funding this year for the power plant and £2.5bn has already been spent on the project.

Alison Downes of Stop Sizewell C said she hoped ministers were taking the time to “reconsider their support”.

A spokesperson for Sizewell said the project was progressing while the Department for Energy Security and Net Zero said the government was committed to the project but did not comment on when a decision on the funding would be made when asked by the BBC.

………………………………….The official cost of Sizewell C has been put at £20bn and the project will be partly funded by French energy company EDF.

Ms Downes said she felt by the time Sizewell C was built, it would be too late to tackle the climate emergency.

“Given that Sizewell C cannot in any way help the new government achieve its target of a net zero grid by 2030, we very much hope Ministers are taking the time to seriously reconsider their support,” she said.

“Not only would it be too late to help our climate emergency, this project would increase household bills throughout construction and beyond, and suck billions of pounds of taxpayers’ money away from other urgent priorities.

“Doubling down on the £2.5 billion already spent would be just throwing good money after bad.”

Building permission for the project has already been granted and if funding is secured, construction could take about 12 years.

August 19, 2024 - Posted by Christina Macpherson | business and costs