Sizewell C

The UK Government is looking into the potential of taking a direct financial stake in the construction of EDF’s Sizewell C nuclear project on the Suffolk coast. [emaillocker id=”71749″]

The latest round of negotiations over the £20bn nuclear reactor will focus on whether EDF can prove that it has learned lessons from the Hinkley Point nuclear project, and that a successor plant would offer the public value for money.

The government said it was considering a new deal to help the French state-owned energy company finance Sizewell, which may include taking a direct stake in the project and making taxpayers liable for any cost overruns.

A statement from the Department for Business, Innovation and Skills said it would consider a greater role in the project provided there was “clear value for money for consumers and taxpayers”.https://www.theguardian.com/email/form/plaintone/business-todaySign up to the daily Business Today email or follow Guardian Business on Twitter at @BusinessDesk

The decision to restart formal negotiations comes after a hiatus in talks that have been dogged by concerns over cost, and the involvement of China General Nuclear Power (CGN), which holds a 20% stake in the project.

CGN is reportedly considering backing out of the project, which would leave a financing gap for EDF if the UK government is unwilling to help pay for the construction costs.

The government is also considering support for a new generation of small modular nuclear reactors, or “mini nukes”, which can be built at a lower cost.

Sizewell C are set to speak at the upcoming Nuclear Development Conference – and you can register for the event here: https://www.built-environment-networking.com/event/nuclear-power-conference/

[/emaillocker]