The Bad PlaceThe Guardian | Spending watchdog warns £38bn cost of Sizewell C nuclear plant is ‘risky’ by Jillian Ambrose Energy correspondent
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The National Audit Office warned that the £38 billion Sizewell C nuclear plant in Suffolk may not deliver net savings for UK households until about 2064—roughly halfway through its 60‑year operating life—because the cost of financing its construction under a regulated‑asset‑base model could outweigh the projected £2 billion annual electricity‑system savings. While the reactor, expected to power around six million homes from the late 2030s, promises long‑term low‑carbon electricity, the NAO highlighted immediate and substantial public‑borne risks of cost overruns and delays, noting that comparable nuclear projects have been vulnerable to such problems. Backed by EDF, the UK government and other investors, the scheme has created jobs and sourced about 70 % of construction value from UK suppliers, but critics argue the funding model could leave bill‑payers supporting the plant for years before any power is generated. The NAO called for tighter monitoring, greater parliamentary transparency and value‑for‑money safeguards to mitigate these risks.
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