Gigawatt-scale nuclear projects cost tens of billions of pounds to plan and construct before a single unit of electricity is generated. Their long period of construction, complexity, and subordination to potentially variable regulatory standards have been associated with large cost-over runs and delays. For all of these reasons, and more, the financing of gigawatt-scale new nuclear power has proved formidably challenging. Most civil nuclear nations have built new nuclear power stations on the...

Gigawatt-scale nuclear projects cost tens of billions of pounds to plan and construct before a single unit of electricity is generated. Their long period of construction, complexity, and subordination to potentially variable regulatory standards have been associated with large cost-over runs and delays. For all of these reasons, and more, the financing of gigawatt-scale new nuclear power has proved formidably challenging. Most civil nuclear nations have built new nuclear power stations on the public sector balance sheet, as did the UK for all of its existing nuclear power stations. Hinkley Point C has been financed off the Government balance Type: conclusion | Number: 38 | Paragraph: 216 | Response status: under_consideration Government response: The long-stop date for cancellation of the HPC Contract was agreed (in November 2022) to be extended by three years from November 2033 to November 2036. The long stop date triggers the right but not the obligation to cancel the CfD support p