The UK government has announced an additional investment of $1.7 billion to build the Sizewell C nuclear power station. The funding aims to attract private investors for the project, which is in partnership with French energy group EDF. The government also clarified that taxpayers will not bear the cost of budget overruns and delays. However, concerns have been raised about delays and potential cost increases, with the projected cost reaching up to £35 billion. The delay in the Hinkley Point C project, which is expected to impact Sizewell C, poses challenges for the Labour party's pledge to decarbonize the energy market by 2030.
We don’t have a defence procurement problem, we have a procurement problem: “The planned completion date was 2025 and the budget was £24bn in current prices. On January 23rd EDF admitted the plant may not be ready until 2031, and could cost up to £46bn.” https://t.co/n2SDCUcOLd
$5,500 per unit for, at most, six weeks worth of shells. Scheduled for delivery in 2025. A howitzer shell cost about $800 as recently as 2018. The problem in a nutshell: too expensive, not enough, late delivery. https://t.co/L7GfdEtfgq
The U.K. hopes to secure a major new vaccines investment by AstraZeneca with a possible state aid package worth tens of millions of dollars. https://t.co/fSl6QSXFIi
EDF’s delay to Hinkley Point C, and expected knock-ons to Sizewell C, is a big headache for Starmer and Labour, since one of their big pledges is to decarbonise the energy market by 2030. These two nuclear plants would in theory meet 14% of UK demand. But if neither turns up…
If this is a joke, it is a cruel one UK nuclear plant hit by new multi-year delay and could cost up to £35bn via @FT https://t.co/kntsrDgPpJ
British taxpayers will not bear the cost of budget overruns and delays on the construction of Hinkley Point C nuclear power plant, the government said on Tuesday following an announcement by the French utility EDF on delays to the project. https://t.co/pj7pVYuRWz
The #UK government says it will make available an additional £1.3 billion ($1.9 billion) in funding for the construction of the Sizewell C #nuclear reactor project with French energy group #EDF. https://t.co/n3vWCuU2zx
The UK government says it will make available an additional £1.3 billion ($1.9 billion) in funding for the construction of the Sizewell C nuclear reactor project with French energy group EDF. https://t.co/4IcXfLfdCE
UK puts up an extra £1.3 billion to build Sizewell C reactor https://t.co/a1e34Aaew6 via @rachelmorison https://t.co/4pI5FCMdKb
The UK government will invest an additional £1.3 billion to build the Sizewell C nuclear plant, to try and entice private investors to back the project https://t.co/s07y5meNiM
UK to invest extra $1.7 bln in Sizewell C nuclear power station https://t.co/uZg3EUHd6b https://t.co/EdSoIlUKFm