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Thursday, February 13, 2025

Nuclear Power Costs Spiral as Renewables Offer a Cheaper Solution

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The projected cost of the Sizewell C nuclear power station in Suffolk has soared to an eye-watering £40 billion—double the estimate made by the UK government in 2020.

This staggering rise follows hot on the heels of Hinkley Point C’s ballooning price tag, which now stands at £46 billion after an initial budget of just £18 billion.

Together, the two projects have overshot their original budgets by a jaw-dropping £48 billion, sparking fierce criticism of Westminster’s nuclear energy strategy.

Dave Doogan MP, the SNP’s spokesperson for net-zero and energy, has branded nuclear power “another financial black hole” in post-Brexit Britain, calling instead for investment in clean, renewable energy.

In his statement, Doogan said:

“In a week when the Chancellor has clearly lost control of the public finances, Labour’s costly commitment to nuclear energy is another financial disaster.”

He highlighted that the spiralling costs of Sizewell C and Hinkley Point will not only fail to address the climate crisis but will also deepen the burden on households grappling with rising energy bills.

“Labour promised to cut energy bills by £300, yet bills continue to rise as they follow the Tories’ lead in funnelling billions into delayed and expensive nuclear projects,” Doogan added.

Critics argue that nuclear power not only takes decades to build but also fails to provide an affordable solution to the ongoing cost-of-living crisis.

Meanwhile, Scotland has been leading the way in renewable energy, with wind, hydro, and solar power generating clean, affordable electricity right on its doorstep.

Doogan concluded:

“It’s clear that nuclear power costs more, is costing more, and will keep bills soaring, while Scotland is sitting on a green energy goldmine.

“Only the SNP is committed to harnessing this potential and standing up for Scotland’s interests.”

As the financial and environmental implications of nuclear power come under increasing scrutiny, the debate over how best to meet the UK’s energy needs is far from over.

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