EDF Energy statement on CfD auction results
The fall in the cost of future offshore wind projects is good news for consumers at a time when we need a big expansion in renewables to help the UK reach ‘net zero’ emissions. The country also needs low carbon nuclear power. The two technologies will complement each other to create an affordable, reliable electricity system which doesn’t depend on fossil fuels for back-up power when the wind doesn’t blow and the sun doesn’t shine.
Countries using renewables and nuclear together have already successfully cut their emissions for electricity generation. Experience and repetition have reduced costs in renewables and this is also a proven route to cut costs in nuclear. Restarting the industry at Hinkley Point C means our proposed near-identical project, Sizewell C, and subsequent new nuclear power station developments, will be significantly cheaper to build and finance.