nuclear-news

Centrica set to take 15% stake in Sizewell C nuclear project.

All sides are keen to reach an investment decision in July after years of delay and
months of negotiations. Centrica is set to take a 15 per cent stake in the
UK’s Sizewell C nuclear project after years of delay and months of drawn
out negotiations. All sides are keen to reach a final investment decision
on the project before parliament’s recess on July 21, according to people
familiar with the discussions.

The final cost of Sizewell — set to be
only the second new nuclear plant built in a generation in Britain —
could be close to £40bn, the Financial Times reported in January based on
assumptions from industry experts. Sizewell’s management has rejected
that figure although no new estimate has been given.

The planned investment
by Centrica means that the FTSE 100 energy company behind British Gas would
have the same size stake in Sizewell C as French state-owned energy group
EDF, which has progressively reduced its position in the Suffolk project to
15 per cent.

Centrica already holds a 20 per cent stake in the parent
company of the entity that operates EDF’s existing nuclear assets in the
UK. The investment in Sizewell could still come in time for French
President Emmanuel Macron’s visit to London for an Anglo-French summit on
July 8. However, timetables have slipped, according to the people familiar
with the situation, putting that goal in doubt.

 FT 27th June 2025 , https://www.ft.com/content/5e107953-7f93-4a0d-ba73-6f28213e943c

June 28, 2025 - Posted by Christina Macpherson | business and costs, UK