Global law firm Ashurst Perkins Coie is advising the Department for Energy Security and Net Zero (DESNZ) on a bespoke Contract for Difference to support the lifetime extension of the Sizewell B nuclear plant from 2035 to 2055.
The Contract for Difference, once signed and subject to regulatory approvals and legislative amendments, will enable the continued operation of Sizewell B beyond 2035, securing sufficient low-carbon baseload power for the equivalent of 2.5 million homes for a further 20 years, supporting the UK Government's Clean Power mission and wider energy security objectives.
The Ashurst Perkins Coie team advising DESNZ on Sizewell B is being led by partner David Wadham, supported by senior associate Abigail White and associate Harriet Curran. Subsidy assessment advice is being provided by partner Ed McNeill and senior associate Jessica Bracker. The team will continue to support DESNZ through finalisation of the CfD.
Commenting, lead partner David Wadham said: "We're pleased to be supporting DESNZ on Sizewell B, continuing our long-standing relationship with the department on some of the UK's most important energy projects. This latest transaction - facilitating the extension of an existing nuclear asset with a CfD - helps ensure that nuclear continues to play an important role in the UK electricity sector into the 2030s and beyond."
