UK / Head Of EDF To ‘Demand Clarity’ On Funding For New Nuclear

Reports say company wants tax on energy bills to pay for Sizewell C
Head Of EDF To ‘Demand Clarity’ On Funding For New Nuclear
EDF and China’s CGN are 80% and 20% shareholders in the planned Sizewell C nuclear power station project. Courtesy EDF Energy.
EDF chairman and chief executive officer Jean-Bernard Lévy will this week demand clarity from British chancellor Rishi Sunak regarding the country’s plans for funding nuclear power.

According to The Times, Mr Lévy was expected to speak to Mr Sunak via video link today, 30 September.

It comes after Hitachi announced earlier this month that it was scrapping plans to build two UK Advanced Boiling Water Reactors at the Wylfa Newydd nuclear site in north Wales, blaming the lack of a viable financing structure in an “increasingly severe” post-Covid investment environment.

The company suspended the project in January 2019 saying further time was needed to decide on a financing structure for the project and the conditions for building and operating the station. At the time it said it had failed to reach a financing agreement and the project posed too great a commercial challenge.

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