From NOT A LOT OF PEOPLE KNOW THAT

By Paul Homewood

The Government has also just announced the go-ahead for Sizewell C:

The £14.2 billion mentioned will be direct government investment in the project, which will still be owned by EDF. Private investors are still being sought, and a Final Investment Decision is expected next month.

The Telegraph comment:

The costs for Hinkley Point C, under construction in Somerset, have risen from around £20 billion to at least £42 billion with some experts warning the final bill will come close to £50 billion when it starts operating around 2031.

Such unpredictable construction costs have made it difficult for the Government to find any companies willing to invest in Sizewell C.

EDF, the French state energy company which is building Hinkley, has progressively reduced its stake in Sizewell C leaving the Government holding 84pc.

Officials have been seeking foreign state investment including from the United Arab Emirates.

Mr Miliband still refuses to divulge the estimated final cost of Sizewell C and negotiations with prospective partners are thought to still be under way. The best estimates to date suggest the power station will cost about £40 billion.

The money will come initially from the Treasury but it and other investors will recover the construction costs via a new levy, known as the Regulated Asset Base, to be added to consumer and business energy bills.

Kathryn Porter comments:

“It’s hard to imagine a “golden age” of nuclear power with EDF’s outdated and troubled reactor design. EDF in France is already looking to the next generation – building another of these older versions is a retrograde step. It’s also highly unlikely that Sizewell C would be built faster than Hinkley given the lengthening of supply chains.”