nuclear-news

Ed Miliband admits Sizewell C cost has almost doubled to £38bn

 New power station approved despite costs almost doubling from an estimate made five
years ago. Ed Miliband has admitted Sizewell C will cost at least £38bn to
build as he gave final approval for the construction of the nuclear power
station. The Energy Secretary took the final investment decision on the
controversial power station on Tuesday.

The site will take at least a decade to build. The Government confirmed the project will cost £38bn in 2024 prices, or £39.3bn once inflation since then is factored in. The
total is almost double the £20bn estimate given by the government and
developers EDF in 2020.

Sizewell C will be part-funded by a new levy on
household electricity bills called the Regulated Asset Base. The aim is to
pay the construction costs as they are incurred rather than borrow and then
pay decades of interest. Mr Miliband has claimed this levy will add only
£12 a year to the average household bill, but his claim is being treated
with scepticism by critics who point out that almost all major nuclear
projects suffer massive delays and cost overruns.

 Telegraph 22nd July 2025 https://www.telegraph.co.uk/business/2025/07/22/miliband-gives-sizewell-c-nuclear-plant-the-green-light/

July 25, 2025 - Posted by Christina Macpherson | business and costs, UK