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Thank you to TASC members for this response

A PDF of the TASC submission to the Regulated Asset Base (RAB) Nuclear Consultation can be downloaded here

A PDF of the Appendix to theTASC submission can be downloaded here

Just one major problem with the Sizewell C plans is that nuclear new build projects have been largely a financial disaster. Almost every major nuclear project in the West has been plagued by delays and cost overruns: Some delays are in the order decades. Likewise, the cost overruns are of epic proportions. Some new-build projects have had cost overruns that run into billions.
Changing the funding method for the planned Sizewell C to a regulated asset base model would shift the risk of rising costs from EDF to consumers, and could lead to even worse project planning because the existing RAB model would offer little incentive for EDF  to build on-time and on-budget. EDFs  investment is safe regardless, and we wind up footing the bill no matter how incompetently EDF proceeds.

The RAB Consultation ends on MONDAY OCTOBER 14th 2019, so if you wish to submit a response, the link is here:

https://beisgovuk.citizenspace.com/energy-strategy-networks-markets/regulated-asset-base-rab-model/

 

Category: Reports