London Daily

Focus on the big picture.
Thursday, Oct 16, 2025

Plan for UK nuclear financing model moves upfront cost to energy bills

Plan for UK nuclear financing model moves upfront cost to energy bills

Legislation paves way for firms building nuclear plants to charge households long before completion
The government plans to resuscitate the UK’s nuclear energy ambitions by creating a financing model that could pile part of the upfront cost of the £20bn Sizewell C power plant on to householders’ energy bills before it starts generating electricity.

The energy secretary, Kwasi Kwarteng, set out legislation on Tuesday that would share the early construction costs with consumers, with the aim of reducing the UK’s reliance on overseas funding for nuclear projects by making them more attractive to domestic investors.

The long-awaited legislation could also pave the way for the government to take a direct stake in the Sizewell C nuclear plant by using tens of millions of pounds of public money during its risky development phase – replacing the China General Nuclear Power Group (CGN), which has a 20% share of the project.

Kwarteng said the existing financing scheme, which was used to back the Hinkley Point C nuclear scheme in Somerset, had led to “too many overseas nuclear developers walking away from projects, setting Britain back years”.

The legal backing for a new financing model is expected to help clear the way for the energy firm EDF to build Sizewell C in Suffolk after years of wrangling over how to fund the huge upfront cost of constructing a nuclear plant.

Under the new financing framework, known as a regulated asset base (RAB) model, EDF would start earning money – collected from energy bills – long before the reactor begins generating electricity.

The government said each household would not have to pay more than a few pounds a year extra on its bills to support the project during construction, but Sizewell C could save households more than £30bn over the facility’s lifetime.

The plant, which is still going through the planning process, could eventually power 6m homes, but has been plagued by opposition from local campaigners, concerns about costs and the involvement of state-owned CGN.

CGN is a minority partner in EDF’s Hinkley Point scheme, and is interested in building its own reactor at Bradwell-on-Sea in Essex. However, its involvement in the nuclear industry has faced growing worries over national security. The US has urged the UK to cut the company from its nuclear programme.

Kwarteng said: “We urgently need a new approach to attract British funds and other private investors to back new large-scale nuclear power stations.”

The government’s nuclear ambitions have foundered in recent years, with companies including the South Korea power utility company Kepco and Japan’s Hitachi and Toshiba abandoning plans to build in the UK.

Greg Hands, the minister for energy and clean growth, said the legislation would help the UK to build “the new nuclear power stations we need to ensure a resilient, low-carbon electricity system for future generations.

“This finance model will also support the UK’s thriving civil nuclear industry, which currently employs 60,000 in high-skilled jobs, and help create thousands more as we level up opportunities across the whole country.”
Newsletter

Related Articles

0:00
0:00
Close
Australian Punter Archie Wilson Tears Up During Nebraska Press Conference, Sparking Conversation on Male Vulnerability
Australia Confirms U.S. Access to Upgraded Submarine Shipyard Under AUKUS Deal
“Firepower” Promised for Ukraine as NATO Ministers Meet — But U.S. Tomahawks Remain Undecided
Brands Confront New Dilemma as Extremists Adopt Fashion Labels
The Sydney Sweeney and Jeans Storm: “The Outcome Surpassed Our Wildest Dreams”
Erika Kirk Delivers Moving Tribute at White House as Trump Awards Charlie Presidential Medal of Freedom
British Food Influencer ‘Big John’ Detained in Australia After Visa Dispute
ScamBodia: The Chinese Fraud Empire Shielded by Cambodia’s Ruling Elite
French PM Suspends Macron’s Pension Reform Until After 2027 in Bid to Stabilize Government
Orange, Bouygues and Free Make €17 Billion Bid for Drahi’s Altice France Telecom Assets
Dutch Government Seizes Chipmaker After U.S. Presses for Removal of Chinese CEO
Bessent Accuses China of Dragging Down Global Economy Amid New Trade Curbs
U.S. Revokes Visas of Foreign Nationals Who ‘Celebrated’ Charlie Kirk’s Assassination
AI and Cybersecurity at Forefront as GITEX Global 2025 Kicks Off in Dubai
DJI Loses Appeal to Remove Pentagon’s ‘Chinese Military Company’ Label
EU Deploys New Biometric Entry/Exit System: What Non-EU Travelers Must Know
Australian Prime Minister’s Private Number Exposed Through AI Contact Scraper
Ex-Microsoft Engineer Confirms Famous Windows XP Key Was Leaked Corporate License, Not a Hack
China’s lesson for the US: it takes more than chips to win the AI race
Australia Faces Demographic Risk as Fertility Falls to Record Low
California County Reinstates Mask Mandate in Health Facilities as Respiratory Illness Risk Rises
Israel and Hamas Agree to First Phase of Trump-Brokered Gaza Truce, Hostages to Be Freed
French Political Turmoil Elevates Marine Le Pen as Rassemblement National Poised for Power
China Unveils Sweeping Rare Earth Export Controls to Shield ‘National Security’
The Davos Set in Decline: Why the World Economic Forum’s Power Must Be Challenged
France: Less Than a Month After His Appointment, the New French Prime Minister Resigns
Hungarian Prime Minister Viktor Orbán stated that Hungary will not adopt the euro because the European Union is falling apart.
Sarah Mullally Becomes First Woman Appointed Archbishop of Canterbury
Mayor in western Germany in intensive care after stabbing
Australian government pays Deloitte nearly half a million dollars for a report built on fabricated quotes, fake citations, and AI-generated nonsense.
US Prosecutors Gained Legal Approval to Hack Telegram Servers
Macron Faces Intensifying Pressure to Resign or Trigger New Elections Amid France’s Political Turmoil
Standard Chartered Names Roberto Hoornweg as Sole Head of Corporate & Investment Banking
UK Asylum Housing Firm Faces Backlash Over £187 Million Profits and Poor Living Conditions
UK Police Crack Major Gang in Smuggling of up to 40,000 Stolen Phones to China
BYD’s UK Sales Soar Nearly Nine-Fold, Making Britain Its Biggest Market Outside China
Trump Proposes Farm Bailout from Tariff Revenues Amid Backlash from Other Industries
FIFA Accuses Malaysia of Forging Citizenship Documents, Suspends Seven Footballers
Latvia to Bar Tourist and Occasional Buses to Russia and Belarus Until 2026
A Dollar Coin Featuring Trump’s Portrait Expected to Be Issued Next Year
Australia Orders X to Block Murder Videos, Citing Online Safety and Public Exposure
Three Scientists Awarded Nobel Prize in Medicine for Discovery of Immune Self-Tolerance Mechanism
OpenAI and AMD Forge Landmark AI-Chip Alliance with Equity Option
Munich Airport Reopens After Second Drone Shutdown
France Names New Government Amid Political Crisis
Trump Stands Firm in Shutdown Showdown and Declares War on Drug Cartels — Turning Crisis into Opportunity
Surge of U.S. Billionaires Transforms London’s Peninsula Apartments into Ultra-Luxury Stronghold
Pro Europe and Anti-War Babiš Poised to Return to Power After Czech Parliamentary Vote
Jeff Bezos Calls AI Surge a ‘Good’ Bubble, Urges Focus on Lasting Innovation
Japan’s Ruling Party Chooses Sanae Takaichi, Clearing Path to First Female Prime Minister
×