EDF has threatened to abandon work on a proposed nuclear plant in Suffolk unless it receives assurances from the government this year that a viable funding model exists. Simone Rossi, EDF Energy’s UK chief executive, said that rapid progress was needed on the development of the sister project to its £19.6 billion Hinkley Point C plant in Somerset because promised cost savings would not materialise if there was a significant delay between work on the two. Mr Rossi’s comments will worry the government because new nuclear power stations are a core part of its vision for Britain’s sources of energy in the future, with existing ageing reactors being shut down. Nuclear developers including EDF and Hitachi, of Japan, which wants to build a plant on Anglesey, are in talks with the government over alternative financing models that could reduce the costs to consumers. EDF does not need to strike a deal on Sizewell with the government this year, but Mr Rossi wants to be confident that it will be possible to reach an agreement. “This is the year where we need to understand whether this whole thing is really feasible or not,” he told The Times. “If we were to conclude that maybe it’s not feasible, then at that point maybe we say we are not in a position to continue the project.” EDF is pushing for a regulated asset base model similar to that used for the Thames Tideway tunnel, under which the developers would start receiving income while building the project.
Times 4th April 2018 read more »