UK Government updates Sizewell C nuclear funding

• 2 years ago (2024-04-10)
• David Flin

Europe 1181 Nuclear 744

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The UK Government has announced that it has updated and revised Sizewell C’s funding model. This is in response to concerns over potential delays and cost overruns for the nuclear power plant.

The modifications to the funding model have been made after a consultation process to address concerns about the financial model’s sustainability, drawing on the experience of the challenges faced by Hinkley Point C nuclear power plant, to ensure the timely completion of the project while also protecting consumers from financial risks.

The UK Government said that the funding model should strike a balance that both encourages private investment and minimises the impact on consumers.