Ministers close to deal that could end China’s role in UK nuclear power station. Exclusive: deal in which UK government would take stake in Sizewell C would risk inflaming geopolitical tensions. Ministers are closing in on a deal that could kick China off a project to build a £20bn nuclear power station on the Suffolk coast and pump in tens of millions of pounds of taxpayer cash instead – a move that would heighten geopolitical tensions. The government could announce plans to take a stake in Sizewell C power station, alongside the French state-backed power giant EDF, as early as next month, ahead of the Cop26 climate summit. That would be likely to result in China General Nuclear (CGN), which currently has a 20% stake in Sizewell, being removed from the project. Under plans for Sizewell being discussed by Whitehall officials and EDF, the government could take a stake in a development company that will push it through various stages of planning and bureaucracy, sharing the costs with EDF. Private sector investors such as the insurance funds L&G and Aviva would then be lured in at a later stage in return for a government-backed funding model called the regulated asset base (RAB), diluting the taxpayer and EDF. Legislation on RAB funding – the same model used to fund airports such as Heathrow and water companies – is due to progress through parliament next month.
Observer 25th Sept 2021 read more »
China out of nuclear power plan in weeks. Ministers set to bar Communist state from Sizewell C – and may ask pension funds to cover cost.
Daily Mail 26th Sept 2021 read more »
Daily Mail 25th Sept 2021 read more »