Question to the Department for Energy Security & Net Zero:
To ask the Secretary of State for Energy Security and Net Zero, if she will make it her policy to sign affordable power purchase agreements with Sizewell C nuclear power station.
The Government – with its co-shareholder, EDF – is developing the Sizewell C project on the basis of using the Regulated Asset Base (RAB) model for nuclear. The Sizewell C Company’s trading methods under the RAB model would be regulated by Ofgem throughout the duration of the project’s licence. Ofgem’s principal objective is to protect the interests of all existing and future electricity consumers.
New nuclear projects are crucial to help deliver a clean and secure electricity system that is also lower-cost to consumers. Government analysis has shown that Sizewell C is likely to result in value for money, by reducing costs to consumers in a low-carbon electricity system and improving the security of supply.