RAB Model for Nuclear: Government Response to the consultation on a RAB model for new nuclear projects.
BEIS 14th Dec 2020 read more »
Taxpayers in the frame for funding at Sizewell nuclear plant. Ministers said yesterday that they would begin formal negotiations with EDF that would explore the possibility of taxpayer funding for the plant’s construction. They would also consider approving a “regulated asset base” funding model under which households and businesses would start paying for the project via their energy bills while it was still under construction. Both models raise concerns that consumers could be on the hook for cost overruns. At Hinkley, consumers are insulated from budget blowouts under a different funding model in which EDF and CGN are paying all the construction costs. Consumers will, however, pay a high fixed price for the electricity it generates, under a contract widely criticised as too expensive. Greenpeace said that Sizewell was “unnecessary and remains expensive” and warned: “If discussions with the majority French state-owned company ever progressed, the UK public will need to stump up billions of pounds in advance.”
Times 15th Dec 2020 read more »