Campaign group says 'serious questions remain' over Sizewell C funding plan
The Government and the French energy company, EDF have confirmed they would take 20% shares in the nuclear powerplant
Campaigners opposed to a third nuclear power-plant in Suffolk say serious questions remain over plans to fund the project.
It comes after the Government and the French energy company, EDF, have confirmed they would take 20% shares in Sizewell C, which is estimated to cost ÂŁ20 billion.
"The new financing-model means the risk and cost of construction would be shared with consumers"
Alison Downes is from 'Stop Sizewell C'.
She told us it means we'd have to foot the bill- come what may: "The worse case scenario would be that this project goes ahead, the construction begins and causes damage to the local environment, and at the end of the day the reactor doesn't work.
"It's really important that people understand that the new financing-model means the risk and cost of construction would be shared with consumers- during that period."
Ms Downes told us the technology involved should be more rigorously scrutinised- while other parts of the plan, just don't add up: "We fail to understand why there were no conditions attached to the performance of the reactor technology that EDF want to use at Sizewell C.
"It is being built at Hinkley Point but it's a long way off from operating and where those reactors what been built across the world in France, Finland and China- they've run into very serious issues.
"We don't want to see this to go ahead at all and certainly not with the involvement of China General Nuclear- but the question remains about why it's unacceptable for CGN to have a part in Sizewell C, but apparently it's utterly fine for them to continue as partners in building Hinkley Point. So that's a contradiction that doesn't seem to stack up at all."
"There's still plenty of opportunity and plenty of time"
She also told us that the fight to stop the project, is far from over: "There's still plenty of opportunity and plenty of time for this project to grind into the dust.
"It's worth remembering that last time there was a nuclear renaissance in the UK, one plant was build and that was Sizewell B, here.
"The proposed plant at Hinkley Point that received planning consent at that time, was never built."
What does the Government say about all this?
Energy minister Kwasi Kwarteng said the new Regulated Asset Base represented "significant progress towards implementing a new funding model which will give nuclear projects the financial support they need and attract private investment".
"Private investors receive greater certainty through a lower and more reliable rate of return in the early stages of a project, lowering the cost of financing it, and ultimately helping reduce consumer electricity bills."