Sizewell C nuclear project branded terrible deal for taxpayers
Summarised from 2 outlets · Updated 28 Oct, 01:03 · Archive
The Public Accounts Committee has criticised the Sizewell C nuclear power station as a terrible deal for UK taxpayers.
The Public Accounts Committee (PAC), chaired by Conservative MP Sir Geoffrey Clifton-Brown, has branded Sizewell C a 'terrible deal' for UK taxpayers. The committee warned that the nuclear project on the Suffolk coast exposes taxpayers and consumers to significant financial risk while offering private investors protected profits and returns.
Estimated construction costs for the project are between £40.5 billion and £47.7 billion, with full operation expected by 2039 and a planned lifespan of at least 60 years. The Department for Energy Security and Net Zero believes that using a similar design to Hinkley Point C and applying lessons learned from that project will reduce risks. However, the committee warned that no comparable nuclear power station worldwide has been delivered on time or within budget.
The PAC raised concerns about the funding model, which leaves the public carrying most of the financial risk despite having only minority control. If costs rise to the top end of estimates, consumers could face nearly £10 billion in extra costs during construction and a further £12 billion over the plant's lifetime, while private investors would contribute only an additional £30 million.
How it is being reported
- Sizewell C branded a ‘terrible deal’ as taxpayers face billions in extra costsSizewell C nuclear power station at Leiston, Suffolk, has been branded a "terrible deal" for UK taxpayers.East Anglian Daily Times · 28 Oct, 00:01
- Sizewell C branded a ‘terrible deal’ as taxpayers face billions in extra costsSizewell C nuclear power station at Leiston, Suffolk, has been branded a "terrible deal" for UK taxpayers.Ipswich Star · 28 Oct, 00:01
In this story: Public Accounts Committee · Sir Geoffrey Clifton-Brown · Sizewell C · Leiston · Suffolk · Department for Energy Security and Net Zero · Hinkley Point C
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