EDF, Centrica near draft deal with UK for Sizewell B nuclear plant extension, Bloomberg News reports

Centrica

10/06/2026 18:56

    June 10 (Reuters) - EDF and Centrica CNA.L are poised to agree on a draft deal with the UK government to extend the life of the Sizewell B nuclear power station by 20 years, Bloomberg News reported on Wednesday, citing people familiar with the matter.
Here are some details:
The companies are on the verge of agreeing to a heads of terms agreement with UK's Department for Energy Security and Net Zero, and will announce the deal within weeks, the report said.
Under the terms being discussed, Sizewell B would be paid around 70 pounds ($93.69) per megawatt-hour generated, according to Bloomberg News.
Centrica has a 20% interest in Britain's existing nuclear fleet through its stake in EDF Energy's UK nuclear generation business, which includes the Sizewell B nuclear power station.
The Sizewell B nuclear plant on the North Sea coast in Suffolk supplies nearly 1.2 gigawatts of electricity to the grid and is the only pressurised-water reactor in the UK.
EDF Energy had said in April it was in talks with the UK government for a deal that would unlock 800 million pounds ($1.07 billion) of investment in the plant.
EDF, Centrica, and the UK government's energy department did not immediately respond to Reuters requests for comment.
($1 = 0.7472 pounds)

 (Reporting by Unnamalai L in Bengaluru; Editing by Devika Syamnath)
 ((Unnamalai.L@thomsonreuters.com;))