40
Demonstrate value for money to taxpayers for gigawatt nuclear, including full construction risk estimates.
Recommendation
The Government should show how this offers value for money to taxpayers and should be open to other alternative partnerships between the public and private sectors as practised in other countries (including those set out in Table 2). The choice to proceed with gigawatt-scale nuclear power should not be made without robust estimates of its value for money, including the financial value of the construction risk being assumed by taxpayers or billpayers. A headline lower cost than Hinkley Point C is not justified if the value of the risk is too great. This is true even if it forces a conclusion that—for all its other advantages—gigawatt scale new nuclear is not financeable on defensible terms, and that the UK’s nuclear ambition would need to be pursued through other nuclear technologies.
Paragraph Reference
218
Government Response
A response document is linked to this report, dated 25 October 2023. Response attribution to this recommendation has not been verified. Read the response document.
Source
Inquiry
Delivering nuclear power
Report
Eighth Report - Delivering nuclear power
31 Jul 2023
HC 626
Addressee Bodies
Department for Science, Innovation and Technology
Timeline
Recommendation age
3.1 yrs
Report published
31 Jul 2023