United Kingdom

Sizewell C NPP. government to take 20% stake in next generation 20 20 billion program | Political news

The government plans to acquire a 20% stake in the new Suffolk nuclear power plant in a bid to boost the country’s energy security amid global instability and a cost-of-living crisis.

French energy giant EDF is also set to receive a 20% stake in the 20 20 billion late Sizewell C project.

The ministers hope that the approval of the two main supporters in the scheme will encourage other investors to come forward.

Westminster steps up to strengthen nuclear funding

The step comes as: Boris Johnson should publish the British energy security strategy.

The Prime Minister argued that Investments in domestic nuclear և renewable energy will be central to stop dependence on fossil fuels և to establish an independent energy policy, as the country seeks to leave after Russian oil and gas supplies. Invasion of Ukraine.

Legislation is currently under way in parliament to strengthen the financing of the next generation of nuclear power plants.

The Nuclear Energy (Financing) Bill will allow pension funds and other institutional investors to provide cash for power plants through a so-called regulated asset base financing model.

Energy bill payers will also increase the cost of new power plants through construction through their bills to give private investors more confidence after projects such as Sizewell C and Wylfa Newydd in the UK have stopped building financial risks. because of concerns. .

The ministers noted that the fee would add about ֆ 1 a month to household bills, but in the face of the current tightening of the family budget. powered by energy spirals, They say an exception will be considered to protect the poorest.

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At the same time, a member of the Cabinet noted that people living near new offshore wind farms can see a reduction in their energy costs.

But Secretary of Education Nadim Zahavi He said that any new development should be supported by local communities.

Wind turbines in the Lake District
It is noted that people living near new wind farms may see their bills cut

She told Sky News’ Sophy Ridge On Sunday program. “I would say that if we are going to make sure that we carry the will of the local people, whether it is land or nuclear, we must learn how it is done well in other countries. countries.

“You do it to make sure the local community has a real say.

“But we have seen great examples from other people where if they build a nuclear power plant, they get free energy within a certain radius of that power plant.

“So it’s right to look at innovations to make sure we cut ourselves off from carbs, we have to do it, we have to do it well, part of it is that we go back to the will of the local people.”

Sizewell C NPP. government to take 20% stake in next generation 20 20 billion program | Political news

Source Sizewell C NPP. government to take 20% stake in next generation 20 20 billion program | Political news

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