The price of electricity in the UK is going up right now to start paying for the next nuclear plant 10 years (fingers crossed) in advance of it generating any electicity.
They literally invented the idea of applying Contracts for Difference from finance to help build nuclear in the UK.
Those have massively helped renewables get built in the UK and elsewhere by letting governments cheaply subsidize financial risk in energy investments while allowing competitive developers to bid the price lower.
But it wasn't enough for nuclear, where the builders didn't want to be on the hook for the inevitable doubling (or worse) of final cost, so they wrote special rules for new nuclear to be paid in advance and not held to cost estimates.
The price of electricity in the UK is going up right now to start paying for the next nuclear plant 10 years (fingers crossed) in advance of it generating any electicity.
They literally invented the idea of applying Contracts for Difference from finance to help build nuclear in the UK.
Those have massively helped renewables get built in the UK and elsewhere by letting governments cheaply subsidize financial risk in energy investments while allowing competitive developers to bid the price lower.
But it wasn't enough for nuclear, where the builders didn't want to be on the hook for the inevitable doubling (or worse) of final cost, so they wrote special rules for new nuclear to be paid in advance and not held to cost estimates.