en.Wedoany.com Reported - EDF and Centrica are in negotiations with the UK government over the expansion project of the Sizewell B nuclear power plant. According to sources close to EDF, the company plans to invest approximately £800 million (around $1.07 billion) to extend the operational lifespan of Sizewell B from 2035 to 2055.

Located on the North Sea coast of Suffolk, Sizewell B supplies nearly 1.2 gigawatts of electricity to the grid and is the UK's only pressurized water reactor.

EDF stated that the significant volatility in energy markets over the past few years has highlighted the importance of finding a suitable model to reduce commercial risks and make investment decisions. Through its stake in EDF Energy's UK nuclear operations, Centrica holds a 20% interest in the UK's existing nuclear power plants, including Sizewell B. Technically, extending the plant's lifespan is feasible, and EDF's UK subsidiary said in January that it was in talks with the UK side regarding the required investment.

According to previously released information, EDF and Centrica are close to reaching a preliminary agreement with the UK Department for Energy Security and Net Zero, with an announcement expected within weeks. Under the terms being discussed, Sizewell B would receive approximately £70 per megawatt-hour of electricity generated. Centrica and the UK Department for Energy Security and Net Zero have not responded to this matter.

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