The company behind plans for the proposed Sizewell C nuclear power station in Suffolk has distanced itself from a report that it may pull the plug on the project unless it receives financial assurances from the Government.
According to a story in The Times, EDF Energy has “threatened to abandon work” on the Suffolk project unless progress towards agreeing a viable funding model is achieved this year. Sizewell C is planned to be nearly identical to the Hinkley Point C station already under construction in Somerset, the cost of which − at around £19.6bn − has attracted criticism.
Although the use of the same design will make Sizewell C substantially cheaper to build, a different funding model from that agreed in respect of Hinkley Point C is also likely to be necessary keep down the cost of subsidies to electricity consumers. The story in The Times says EDF is concerned that, in the absence of such an agreement, there could be a substantial delay between Hinkley Point C and the start of work on Sizewell C, which could erode the expected cost savings.