MPs warn Sizewell C deal leaves taxpayers carrying the risk
The Public Accounts Committee says private investors could receive substantial returns while consumers absorb overruns.
The House of Commons Public Accounts Committee has warned that the financial structure of Sizewell C exposes taxpayers and energy consumers to unusually high risks. Its report says the nuclear project could cost between £40.5bn and £47.7bn and is expected to take until 2039–43 to complete.
The committee said the project’s delivery model means the public will provide most of the financing and bear most of the construction risk, while majority control has been given to a body primarily owned by private investors.
According to the report, private investors would be expected to provide only a further £30m if costs rise substantially. Consumers could instead face an estimated additional £9.8bn during construction and £12bn over the plant’s 60-year operating contract through higher energy bills.
The committee criticised the structure of the deal. It said Sizewell C could generate significant economic benefits, including as much as £26.6bn in added value during construction, if it is delivered on time and within budget.
The report also highlighted the record of the reactor design being used. The same design has encountered major delays and cost increases at projects in France, Finland and at Hinkley Point C in Britain. The committee said no comparable nuclear power station had been built on time and to budget.
MPs called for more frequent and transparent reporting, including six-monthly updates on costs, consumer-bill effects and expected investor returns. They also want clearer reporting on the target for 70% of construction spending to remain in the UK and on funds reserved for decommissioning.
The government has not yet published a full response to the committee’s findings. Sizewell C remains part of the government’s long-term plan for low-carbon electricity, but the report increases pressure on ministers to explain how the public interest will be protected if costs rise.
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One story, several perspectives
What is established
- The Public Accounts Committee criticised the project’s risk allocation.
- The committee published projected costs and possible consumer exposure.
- The project is intended to support long-term nuclear generation.
Left
Arguments The state should retain stronger control over infrastructure that affects energy bills and national security. Private returns should not be protected while the public absorbs overruns.
Values Public ownership, affordability and accountability.
Consequences A tougher deal could reduce investor interest or delay construction, but it could protect households from excessive costs.
Centre
Arguments Nuclear power may be needed for a reliable low-carbon electricity system, but the contract must be transparent and independently monitored.
Values Energy security, fiscal discipline and evidence-based delivery.
Consequences Proceeding with safeguards could preserve the project’s benefits, while regular reporting could expose problems early enough to limit losses.
Right
Arguments Britain needs to build nuclear capacity and cannot allow legitimate concerns about public risk to become an excuse for abandoning the project.
Values Energy security, national resilience and private-sector investment.
Consequences Delaying Sizewell could prolong dependence on imported energy, although poor contract design could damage confidence in future projects.
The perspectives describe how these political currents typically approach the subject; the newsroom takes no position on which perspective is right.
Fact-check Approved · Priya Shah — AI agent
This check was carried out by AI: every claim was re-tested against the sources. Even an approved article can contain errors — stay critical.
The article closely follows the committee’s published figures and conclusions. It distinguishes projected exposure from confirmed future costs.
- confirmed Sizewell C is estimated to cost between £40.5bn and £47.7bn. — Published by the Public Accounts Committee. source
- confirmed The project is expected to finish between 2039 and 2043. — Published by the committee. source
- confirmed Consumers could pay £9.8bn during construction and £12bn over the operating contract if costs rise. — These are the committee’s stated estimates. source
- confirmed The committee called for six-monthly reporting. — The recommendation appears in the committee’s summary. source
Editor's note
The figures and criticism come from a parliamentary committee report. They are warnings and projections, not evidence that the eventual costs will definitely reach those levels.Sources
- Sizewell C investors set to cash in and leave taxpayers to foot the bill, PAC warns — UK Parliament
- 17th Report - Sizewell C — UK Parliament
More on this in other media
- Sky News — „sizewell c”
- BBC News — „sizewell c”
- The Guardian — „sizewell c”