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British energy supplier Centrica is prepared to “walk away” from a planned investment in the Sizewell C nuclear plant

British energy supplier Centrica is prepared to “walk away” from a
planned investment in the Sizewell C nuclear plant, according to its chief
executive. In an exclusive interview with Energy Voice, Centrica chief
executive Chris O’Shea said “there are a number of criteria we have to
consider to invest in the project”. “We’ve said that we are part of the
Sizewell C process but there are a number of criteria we have to consider
to invest in the project,” O’Shea said. “If these are not met, the
right thing to do would be to walk away to protect the business.”

The UK-based supplier owns a 20% stake in the nuclear power stations, amounting
to a 9 terawatt-hour capacity out of a total of 45 TWh. “When the
conditions are right, we’ve seen how good investing in nuclear can be for
Centrica,” said O’Shea. He added that access to that nuclear power
capacity “will be very valuable to the company and to the UK’s energy
system”. “New nuclear will play a crucial role in the future energy
system, however we will only invest if the risks-and-rewards balance is
right for us,” he said. “If it is not right for us, we will not
invest.”

Energy Voice 23rd Dec 2024 https://www.energyvoice.com/renewables-energy-transition/nuclear/564808/centrica-prepared-to-walk-away-from-sizewell-c/

December 26, 2024 - Posted by Christina Macpherson | business and costs, UK