Hinkley Point C is due to be the first nuclear power plant built in the United Kingdom since Sizewell B, which was completed in 1995. The UK government has agreed the key commercial terms for a deal with EDF Group, the project promoters, including the price that it will receive for the power generated by the plant over 35 years from the date of its commissioning, known as the “strike price”. The proposed contract is subject to final government approval.
It is not the NAO’s role to question the merits of the Government’s policy objectives or to be part of the government’s executive decision-making in regard to the proposed contract. Our work will cover the government’s commercial approach to securing this deal and the proposed terms of the contract, to report to Parliament on value for money and the resulting risks which government departments must manage. We will also wish to identify lessons learned to inform decisions on future ‘contracts for difference’
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