The cost of the Sizewell C nuclear project may be 40 billion pounds. That comes to roughly $49 billion. That means it is not a financial entity or adviser, the Financial Times reported Tuesday. The figure is almost twice the original estimate from EDF. The plant plans to generate electricity for six million homes. Nuclear plants are critical for climate goals in the U.K. And they will enhance energy security.
Sources Point to New Cost Assumption
The FT quoted a senior government official. They also cited two sources in the industry. The revised figure for the Sizewell C nuclear project was described as reasonable by these sources. That was based on 2025 prices.
The Government and EDF Respond
Britain’s energy department described the figure as speculative. They said investor talks are continuing. The negotiations are commercially sensitive. The managing directors of Sizewell C challenged the cost claims of the nuclear project. They said the claims are not accurate. They pointed to savings from the Hinkley Point C project. EDF declined to comment.
French Audit Body Calls For Fresh Investment
France’s audit body also recommended EDF should get new investors for their nuclear projects. Get this done before you fund the account. Hinkley Point C is EDF’s flagship project1,2, as I mentioned the cost of Hinkley Point C was increased a year ago. It ended up at 31-34 billion pounds at 2015 prices. It was an increase from 25-26 billion pounds. EDF initially claimed Sizewell C would be cheaper. In 2020, the cost of Sizewell C was about 20 billion pounds.
