nuclear-news

Investment decision to be made on Sizewell C nuclear.

 The UK government is expected to reach a final investment decision on the
Sizewell C nuclear power plant on Tuesday. “We are in constructive,
commercially sensitive negotiations with a range of potential investors as
part of the equity raise process,” a spokeswoman for the Department for
Energy Security and Net Zero told Energy Voice in an emailed statement.

“A final investment decision will be made following the conclusion of the
process, which we are targeting for this summer.”

The Financial Times reported that the price tag for the planned nuclear power station in
Suffolk, a replica of Hinkley Point C, will hit £38 billion including
equity and debt. Ministers will reportedly unveil the cost of the project
by the parliamentary recess on Wednesday.

Campaign pressure group Together
Against Sizewell C (TASC)’s chair Jenny Kirtley said: “What
right-minded government would commit billions of public funds to a project
that has already seen a staggering 90% uplift in cost over the last 5
years? “This government and Sizewell C Limited both denied recent build
cost estimates of £40bn for Sizewell C stating there would be a 30%
reduction from Hinkley Point C’s costs due to ‘lessons learned’ so,
why would anyone believe government claims that £38bn Sizewell C will
provide ‘value for money’ for consumers and taxpayers?”

The group has called for a value-for-money assessment of the project to be independently
audited to establish what cost provisions have been included for
“unresolved issues”, including sea defences that were not in EDF’s
original development consent order application.

The main developer on the project, EDF, has reduced its equity stake in the project to 12.5%, valued at about £1.1bn, Energy Voice reported this month. British energy supplier
Centrica is expected to take a 15% stake in the nuclear power plant.
According to a report in Les Echos, Amber Infrastructure and Canadian fund
la Caisse de dépôt et de placement du Québec (CDPQ) now plan to take a
stake of between 25% and 30% in the project.

Reports suggest that a
consortium led by Brookfield Asset Management pulled out of its bid to take
a 25% stake in Sizewell C at the last minute. Greencoat Schroders, which
had entered the round with Brookfield, has also exited the bidding,
according to a separate report. This latest reshuffle would leave the UK
government with an implied minority stake of as little as 42.5%.

 Energy Voice 22nd July 2025, https://www.energyvoice.com/renewables-energy-transition/576815/investment-decision-expected-on-sizewell-c/

July 24, 2025 - Posted by Christina Macpherson | business and costs, UK