MPs Brand Sizewell C Financing a 'Terrible Deal' for UK Taxpayers
The Commons public accounts committee described Sizewell C's financing arrangements as a "terrible deal for the UK taxpayer" and called for six-monthly reports on the project's costs, construction progress and forecast investor returns, according to Construction News.
Under the deal, the cost of building the plant could reach a higher threshold of GBP 47.7 billion, Construction News reported.
The committee warned that consumers would pay higher bills if costs rise above the baseline, while private investors would face little risk to their capital yet still expect high returns. It said these arrangements made annual investor returns above 10% difficult to justify and raised concerns about whether investor incentives were strong enough to promote efficient delivery.
Source: constructionnews.co.uk (opens in a new tab)1 sourcePermalink