43 shares or the Sizewell C site or , if EDF is unable to provide these assets as requested by government , the money will be refunded by EDF together with a financing return .
No decisions , including on the final configuration of Sizewell C ’ s investors , have been made .
Simone Rossi , CEO of EDF Energy , said : “ We ’ re very pleased that the government is showing its confidence in Sizewell C which , if approved , will lower energy costs for consumers and help to insulate the UK from global gas prices . Together with our own investment , these funds will allow us to continue to move the project towards a financial investment decision .”
Sizewell C will benefit from being a near replica of Hinkley Point C in Somerset which is more than 5 years into construction and making great progress in the challenging context of the COVID pandemic . Sizewell C will provide a huge economic boost to East Suffolk where it already enjoys the support of most local people . It will also bring new opportunities for thousands of nuclear supply chain companies up and down the country .
( RAB ) funding model framework for new nuclear projects , passes through Parliament . It is estimated that RAB could lower the cost of each new large-scale nuclear power projects by more than £ 30 billion , compared to the existing Contracts for Difference model .
The RAB model is also expected to reduce Britain ’ s reliance on overseas developers for finance by substantially widening the pool of private investors to include British pension funds , insurers and other institutional investors from like-minded countries .
The government has made up to £ 1.7 billion of new direct government funding available at the Spending Review for developing a large-scale nuclear project to the point of Final Investment Decision this Parliament project - on top of a £ 120 million enabling fund to support further nuclear projects and inform potential investment decisions during the next Parliament .
Last year , £ 210 million was also invested into a Rolls-Royce venture to design the UK ’ s first Small Modular Reactor ( SMR ), pioneering the next generation in advanced nuclear generation .
The announcement comes as the Nuclear Energy ( Financing ) Bill , which will enable a Regulated Asset Base
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