British nuclear project Sizewell C could be in jeopardy after EDF was asked by the French state auditor to reconsider committing to the power station – and instead focus more on domestic nuclear projects.
ADVERTISEMENTAt present, EDF is one of the main backers of Sizewell C, along with the UK government, with the latter holding a stake of over 80% in the project and EDF owning the rest.
Construction on the newly proposed nuclear power plant in Suffolk began in January 2024. Currently, EDF is in the process of making a final investment decision regarding the project, which has the potential to increase its UK exposure. The company has also already invested in the Hinkley Point C nuclear project in Somerset.
However, the Hinkley Point C project has already faced major delays, as well as soaring costs, leading to EDF being compelled to write off about €12.9bn of its investment in the plant. The latest estimates expect this project to cost about £45bn (€53.3bn), with operations likely to start after 2030.
Similarly, the Sizewell C project is expected to cost £40bn (€47.42bn), which is double EDF’s previous 2020 forecast.
The French state auditor, the Cour de Comptes, has discouraged EDF from investing in new foreign projects, especially ones that may carry a higher degree of risk. It has also said that the company should slash its financial exposure to the Hinkley Point C project before making a final decision regarding its Sizewell C investment.
EDF has been told to redirect its efforts towards making sure that domestic French nuclear projects generate profits and start operations as per schedule. Several of these projects are worth many billions of euros and would help to improve France’s energy security.
Euronews has contacted Sizewell C and EDF for comment.
Why is the Sizewell C project seeing backlash?
The Sizewell C project has already faced a lot of opposition, especially given that £4bn (€4.74bn) of taxpayer money has been spent on it so far.
One major concern includes the amount of water the plant is expected to need, as well as what its water source will be. Another point of contention is Sizewell C’s sea defence designs, with increasing worries about their ability to protect the site over the next few decades.
Anti-nuclear campaign groups such as Together Against Sizewell C have filed legal challenges regarding the environmental impact of Sizewell C but so far without success.
Together Against Sizewell C has been joined by other campaign groups such as Stop Suffolk Coastal Friends of the Earth and Stop Sizewell C, which are all legally challenging the project.
Alison Downes, executive director and company secretary at the Stop Sizewell C campaign, was quoted by The Telegraph as saying: “Evidence is mounting that Sizewell C will be unaffordable and late, so why does the Government continue to bankroll it when the economy is under so much pressure?
“The novel financing for Sizewell means that UK households will be expected to pay in advance towards its lengthy construction, Ministers must come clean about its true cost. The continued secrecy around Sizewell C is inexcusable.”
Solicitor Rowan Smith, speaking on behalf of the campaigners, was reported as saying on the BBC: “Our client is arguing that, without a permanent water supply, Sizewell C cannot operate, so the environmental impacts of sourcing that water needed to be assessed before development consent was given.
“The failure to do so was made even worse … given Suffolk is in drought and has vulnerable habitats, which need to be protected.”
