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The UK’s nuclear power ambitions face mounting challenges as reports reveal the projected cost of Sizewell C has doubled to £40 billion. This financial revelation, coupled with a critical report on EDF’s capability to deliver, casts serious doubts over the future of Britain’s nuclear energy strategy.
The French state-backed energy giant EDF, currently constructing Hinkley Point C in Somerset, has encountered significant setbacks. The project’s original £18 billion budget has escalated to a staggering £46 billion in today’s terms, whilst the completion date has slipped from 2025 to 2029 at the earliest.
Technical complexities with the European Pressurised Reactor design have plagued similar projects globally. The Taishan facility in China, despite being operational since 2018, only reached full capacity in 2023 following issues with damaged fuel rods. These technical challenges have prompted EDF to develop a simplified EPR 2 reactor design.
The financing structure for these nuclear projects presents additional complications. Whilst Hinkley Point C relies on EDF’s direct investment, Sizewell C adopts a regulated asset base model, requiring British billpayers to contribute during construction. This approach aims to reduce development costs but introduces new risks for consumers.
Labour market constraints pose a serious concern, as President Macron’s ambitious plans for six new EPR 2 plants in France could create competition for skilled workers. The British programme might find itself deprioritised against French domestic interests.
Small modular reactors (SMRs) present a potential alternative to traditional nuclear infrastructure. These factory-built units promise lower construction costs and faster deployment, though the technology remains untested at scale. The government’s upcoming selection of two SMR suppliers could mark a significant shift in nuclear strategy.
Despite mounting concerns, the government maintains its commitment to nuclear power as a cornerstone of Britain’s energy security and net-zero ambitions. The final investment decision for Sizewell C looms large over the upcoming spending review, with the project’s fate hanging in the balance.
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