British Prime Minister Boris Johnson on Thursday announced £700m (€810m) government funding for the construction of the new Sizewell C nuclear power plant, expected to cost tens of billions of pounds.
British media had already reported that the plant had been given the green light by the Prime Minister, who will remain in office for just a few days until the arrival of the new Conservative Party leader, who will be announced on Monday.
The project, expected to cost between £20,000 and £30,000m (23,000 to 35,000m at current exchange rates), was approved by London in July, despite Johnson previously promising not to make any major budgetary decisions before the deadline. arrival of his successor .
Sizewell C will be a two 3.2GW EPR reactor plant operated by French company EDF, with China’s CGN Group initially being a minority investor, although the UK government is now reluctant to involve Chinese investors in a project deemed strategic.
The proposed factory is expected to be financed by the private sector, with a 20% stake by the UK government, according to press reports.
In what is the latest public intervention in office, Johnson for years criticized the “paralysis” of the UK industry, the “nearsightedness” and the “short-term vision” of several predecessors, but said he was confident the next prime minister would continue to develop the industry.
“Nuclear always seems expensive to build and operate when you start out, but look at the consequences of the war of… [Vladimir] Putin: (nuclear power) is definitely cheaper compared to hydrocarbons,” he argued.
London had already announced in January that it would pump a further £100 million into Sizewell C’s development and “attract more funding from private investors”.
The project is also the subject of legal action by critics who dispute its environmental impact, defend the use of the money to thermally insulate homes and financially help those most affected by the rise in energy prices.
The United Kingdom, which is committed to reaching carbon neutrality by 2050, wants to accelerate the development of nuclear power, which emits no greenhouse gases into the atmosphere, as many of its 15 current reactors approach the end of their predicted lifespans.
The country has planned eight new reactors until 2050, which should guarantee 25% of the electricity needs.
The threat of Russia cutting off natural gas supplies to Europe has increased the risk of shortages of this energy source in winter when it is used for domestic heating, leading to a race for alternatives.
Although the UK has little reliance on Russia, it has been hit by rising prices in international markets, with Shell CEO Ben van Beurden suggesting the need to ‘ration’ energy consumption.
On Wednesday, Liz Truss, favored candidate to succeed Boris Johnson, categorically rejected this hypothesis, while rival Rishi Sunak admitted it was something that “cannot be ruled out”.
Source: El heraldo
John Cameron is a journalist at The Nation View specializing in world news and current events, particularly in international politics and diplomacy. With expertise in international relations, he covers a range of topics including conflicts, politics and economic trends.
