Billions of pounds of savings possible for Sizewell C

Building a new nuclear power station in Suffolk could be billions of pounds cheaper than Hinkley, the new boss of energy giant EDF Energy has said.

Simone Rossi, chief executive of the French firm, said there could be a capital cost reduction of 20% for a proposed new plant at Sizewell.

Hinkley Point C, in Somerset, is set to cost £20 billion. Mr Rossi said work was "going well" with more than four million cubic metres of earth having been moved and huge sea water cooling pipes being installed.

It is set to produce its first unit of power by 2025.

The chief executive stressed the benefits that Sizewell would reap thanks to the work already going on at Hinkley.

Costs are set to be drastically reduced because the Suffolk plant will replicate much of the design and "doing something again with the same design makes it easier and cheaper".

EDF Energy and its partner China General Nuclear Ltd propose to build andoperate a new nuclear power station, Sizewell C, located to the north of the existing Sizewell B plant on the Suffolk coast, with two reactors capable of generating enough low carbon electricity to supply around five million homes.

The go-ahead for Sizewell C would see the guaranteed price paid for power from Hinkley Point drop from £92.50 per megawatt hour to £89.50/MWh.