UK MPs Call Sizewell C a "Terrible Deal," Warn of 75 Years of Rising Bills

Britain's planned Sizewell C nuclear plant will burden consumers with 75 years of rising electricity bills, MPs on the Public Accounts Committee warned, calling the financing a "terrible deal" for households and businesses. The plant, under construction on the Suffolk coast and due for completion in 2039, will cost consumers £136.5 billion over 15 years of construction and at least 60 years of operation, while investor and debt payouts will total nearly £120 billion, the committee said. Investors are guaranteed returns of up to 13%, with private backers holding a 55.1% equity stake against the Government's 44.9%. The committee flagged the reactor design's poor delivery record, citing delays of up to 14 years on comparable projects and warning consumers could shoulder nearly 99.9% of cost overruns. Sizewell C chief executive Nigel Cann defended the project, citing Hinkley Point C's replica design as reducing risk.