In response to the Public Accounts Committee’s report on Sizewell C’s financing arrangements, Tom Greatrex, Chief Executive of the Nuclear Industry Association, said:
“Sizewell C will provide the equivalent of 6 million households’ electricity demand for at least 60 years – clean, reliable and constantly available power that will deliver electricity system savings of £2bn a year – and using a finance model which costs consumers less by attracting new private investment.
“Currently, the consumer is footing a bill of £2.8bn so far this year to manage a dysfunctional grid, paying both for wind to stop generating at some times, and for gas-powered backup at others. The only way to stop that escalation is with more baseload power, and international experience demonstrates the most cost-effective way to do that is by repeat building the same design. This is precisely what the UK is doing.”
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