Sizewell C Power Station

Department for Business, Energy and Industrial Strategy written question – answered on 3rd August 2020.

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Photo of Lord Marlesford Lord Marlesford Conservative

To ask Her Majesty's Government when they intend to announce details of the financial funding arrangements for the proposed Sizewell C nuclear power station, in particular the method by which electricity consumers would be protected from future project cost escalation; and what plans they have to publish those details before the Development Consent Order application, accepted by the Planning Inspectorate on 26 June, is considered at Examination.

Photo of Lord Callanan Lord Callanan Parliamentary Under-Secretary (Department for Business, Energy and Industrial Strategy)

The Government is reviewing options for the financing of new nuclear projects. In 2019, we consulted on a Regulated Asset Base (RAB) as a possible funding model for future nuclear projects. The consultation sought views from stakeholders on proposed design principles for a nuclear RAB, including risk sharing arrangements with consumers. Our consultation was not project specific, as each project has its own financial considerations. We are currently considering consultation feedback and will respond in due course.

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