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UK nuclear build requires taxpayer rescue – Citi via Reuters

(Reuters) – Britain’s aim to expand its fleet of nuclear plants by 2025 will take place only if the taxpayer absorbs the burden of spiralling construction costs, allowing private companies to invest in the sector, a senior analyst said.

Nuclear energy policy in Britain faces major setbacks following reports that the cost of replacing ageing reactors increased dramatically in the past year, making power produced from new plants not affordable without government help.

A report from the Times newspaper on Monday said French nuclear developer EDF had raised the cost of building a nuclear power plant to 7 billion pounds from 4.5 billion pounds last year.

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