“Households could foot the bill for new nuclear plants”

Ministers are set to unveil a controversial new method for funding nuclear power stations and carbon-capture projects — one that heaps cost and risk onto consumers.

The business department is expected to publish a consultation this week on regulated asset base (RAB) financing in the nuclear sector. It is a method used by water companies and Heathrow airport, allowing them to begin charging households years before a project has been built.

French giant EDF wants to pioneer the financing model at its proposed Sizewell C power plant in Suffolk. EDF is building the £20bn Hinkley Point C station in Somerset, but argues that it cannot afford to build any future plants in the UK without a new financing approach.

Ministers are wrestling with how to meet the UK’s power needs, with ageing coal and nuclear stations set to close. However, government plans to publish a full energy white paper this week seem to have been dashed by concerns over how to pay for the programme, and the change in Tory leader. The white paper is now expected in the autumn.”

Source: Sunday Times (pay wall)

2 thoughts on ““Households could foot the bill for new nuclear plants”

  1. The public footpath (long established) passes through a building site so it is understandable that safety was paramount in the building worker’s mind. Has any action to temporarily note its closure taken place?

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    • The comment above was meant in rsponse to a report about access to a public footpath that passes through the Plumb Park building site ! (The “Moderator” should have realised this and not published it, AND contacted me with an appropriate comment if not undersstood !

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