Sizewell C: Government in talks to invest £20bn in nuclear plant

 

 Government talks have started with the French energy company EDF to construct a  new £20bn a nuclear power plant in Suffolk.

Sizewell C a twin-reactor plant that appearance and working shows cloning of Hinkley Point C in Somerset that is in partnership with China General Nuclear Power that could supply up to seven percent of the electricity in the world.

The announcement, which came as the long-awaited energy white paper was launched by officials, may see the government taking a strategic interest in the program. It comes after months of speculation over the existence of nuclear stations in the United Kingdom, which many consider being crucial to the climate change promises of Boris Johnson.

The government representatives say that Sizewell is a crucial next step towards the net zero electricity balance that is a need of the future. This initiative would provide thousands of highly qualified, well-paid and long-term jobs across the supply chain, at a time when they are desperately needed, as well as at least 60 years of permanently available renewable energy.

3.2 gigawatts of electricity will be generated by the Sizewell C facility, enough to supply 7 percent of the needs of the UK. But with campaigners saying it is "ridiculously expensive" it has been controversial and that people would have to foot the bill for additional expenses. Any consensus on areas such as return on investment and accessibility will be subject to ratification, the government said.  

According to Government officials, Sizewell C negotiations with EDF will rely on the success of Hinkley Point C. The scheme, however, is set to cost up to £ 2.9 billion more than initially estimated and will be late for up to 15 months. China General Nuclear Power has a 20 percent interest in Sizewell C, but after safety issues were raised about a Chinese state-owned firm developing and operating its own nuclear reactor concept on UK soil, it is believed to be preparing to pull out.

A Department of Commerce, Energy, and Industrial Policy statement said it would seek greater involvement in the Sizewell project if "clear value for money for consumers and taxpayers" were present.

The news on Monday is part of the growing Energy White Paper, which ministers say over the next decade will help up to 220,000 jobs. Specific measures to mitigate pollution from manufacturing, transport, and buildings are set out in the report. Policies can reduce 230 million metric tons of emissions, which the government claims, is equal to removing 7.5 million petrol cars off the track.

The study shows concrete steps to minimize emissions from manufacturing, highways, and structures. Policies will minimize the emissions by 230 million metric tons, which the government says is equivalent to 7.5 million diesel cars being withdrawn from the track.

Due to transport and low carbon heat, the paper says that energy demand would double. It recommends that all newly built heating systems should be low-carbon or able to be turned into renewable fuel supplies by the mid-2030s. Co-incidentally, the government faced backlash on Monday over two new climate policies. The Commons Environmental Audit Committee said it faced significant problems with the newly imposed Green Homes Grant to help householders insulate their homes.

It said several individuals were having problems accessing the platform, and several were unable to locate a contractor to install insulation. The UK Energy Research Centre - a group of researchers funded by the government - said that the government's strategy of preventing the selling of new petrol and diesel vehicles by 2030 was inadequate. It said ministers wanted to aggressively tax those cars now otherwise people would only purchase them in 2029 and operate them for a few decades.

 

The United Kingdom currently has eight operating power stations, supplying about 20% of the country's electricity, but four of these are expected to shut down by 2024. Officials are now consulting on a new financing model, the Regulated Asset Base, which would allow customers to pay for the project through higher bills.

But the government's climate advisers said last week that by 2035, the country would need to develop eight gigawatts of new nuclear power to meet its climate targets.