{"id":4666,"date":"2026-09-16T09:38:17","date_gmt":"2026-09-16T09:38:17","guid":{"rendered":"https:\/\/www.vaultinsider.top\/?p=4666"},"modified":"2026-09-16T09:38:17","modified_gmt":"2026-09-16T09:38:17","slug":"the-u-k-has-a-competitiveness-deficit-in-its-energy-costs-thats-a-real-call-to-action-says-edf-u-k-chair","status":"publish","type":"post","link":"https:\/\/www.vaultinsider.top\/?p=4666","title":{"rendered":"\u2018The U.K. has a competitiveness deficit in its energy costs\u2014that\u2019s a real call to action,\u2019 says EDF U.K. chair"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/fortune.com\/img-assets\/wp-content\/uploads\/2026\/09\/AlexChisholm1.jpg?w=2048\" \/><\/p>\n<p>Sir Alex Chisolm has been U.K, chair of EDF for more than two years, but he is still awestruck by the power on display when visiting any one of the company\u2019s eight nuclear power stations.\u00a0<\/p>\n<div>\n<p class=\"wp-block-paragraph\">At Sizewell, which is currently home to Sizewell B, the U.K.\u2019s largest operational nuclear site, he says: \u201cYou can stand on the bridge there and feel, wow, this is how we actually make this. This is the room with the magic that\u2019s powering 1.2 million homes, and you\u2019re going to see these giant machines going around amazingly fast. You think, well, that is power.\u201d\u00a0<\/p>\n<p class=\"wp-block-paragraph\">Chisholm stepped down as permanent secretary to the Cabinet Office in 2024 and currently serves as a non-executive director at BT and senior adviser to Boston Consulting Group, in addition to his EDF role. Transitioning from the world of politics and returning to the private sector has been a welcome change of pace.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">\u201cIt\u2019s good for people like me who spent probably a bit too much time hanging around Whitehall offices to get out to sites where the real work is done by people to power the nation,\u201d Chisholm says.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">EDF, a French state-owned energy company, sits at 15th on the latest Fortune 500 Europe rankings and recorded profits of \u20ac8.4 billion ($9.7 billion) for the 2025 financial year.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">Chisholm first developed an interest in the energy sector while at the Competition and Markets Authority, which was overseeing an energy market review when he was chief executive of the regulator. He also served as head of the business and energy department for four years and says he found the sector \u201cabsolutely fascinating.\u201d<\/p>\n<figure class=\"wp-block-pullquote\">\n<blockquote>\n<p>\u201cThis is the room with the magic that\u2019s powering 1.2 million homes, and you\u2019re going to see these giant machines going around amazingly fast. You think, well, that is power.\u201d\u00a0<\/p>\n<p><cite>Sir Alex Chisolm, U.K, chair of EDF<\/cite><\/p><\/blockquote>\n<\/figure>\n<p class=\"wp-block-paragraph\">\u201cThe energy sector is so important to the way people lead their lives, to our business competitiveness, and all the changes happening with the development of AI,\u201d he adds. \u201cSo I thought that was a very worthwhile challenge to throw myself into.\u201d\u00a0<\/p>\n<h2 class=\"wp-block-heading\"><strong>Rising energy costs \u2018put brakes\u2019 on growth<\/strong><\/h2>\n<p class=\"wp-block-paragraph\">Energy companies and the U.K. government are currently facing pressure to help bring business energy costs down. Gas and electricity costs for businesses have increased by 25% since February, according to industry research firm Cornwall Insight, largely as a result of conflict in the Middle East.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">The Confederation of British Industry has warned that persistently high energy prices threaten the U.K.\u2019s global competitiveness and risk \u201cputting the brakes on the country\u2019s growth ambitions.\u201d<\/p>\n<p class=\"wp-block-paragraph\">Chisholm believes that the government should be prioritizing reducing energy costs for both businesses and consumers. EDF was among a group of 120 organizations that called for \u201chidden taxes\u201d, including levies for renewable projects, to be scrapped from energy bills.\u00a0<\/p>\n<figure class=\"wp-block-pullquote\">\n<blockquote>\n<p>15<\/p>\n<p><cite>Electricit\u00e9 de France Rank on Fortune 500 Europe<\/cite><\/p><\/blockquote>\n<\/figure>\n<p class=\"wp-block-paragraph\">Chisholm says: \u201cThe U.K. has a competitiveness deficit now in its energy costs\u2014that is a real call to action. We\u2019re now nearly one and a half times more expensive [than the rest of Europe] for industrial users of electricity, and that is not a position we can continue to tolerate.\u201d<\/p>\n<p class=\"wp-block-paragraph\">Chisholm regards nuclear power as another key part of the answer. \u201cNuclear is a very important solution, both for the planet, but also for energy security and supply,\u201d he says.<\/p>\n<p class=\"wp-block-paragraph\">EDF is currently involved in the construction of two new nuclear facilities in the U.K. Hinkley Point C is majority owned by EDF and it is estimated it will be capable of powering 6 million homes when it comes online in 2031. EDF also owns a 12.5% stake in Sizewell C which is set to become operational in the \u201cmid to late 2030s.\u201d\u00a0<\/p>\n<p class=\"wp-block-paragraph\">The two nuclear plants will be the first to have been built in the U.K. since the 1990s and are a key part of the government\u2019s plan to reduce the country\u2019s reliance on fossil fuels.<\/p>\n<h2 class=\"wp-block-heading\"><strong>The regulatory burden<\/strong><\/h2>\n<p class=\"wp-block-paragraph\">However, both projects have been beset by delays. Hinkley Point C was originally scheduled to come online by 2025 and had an initial projected cost of \u00a318 billion ($24.26 billion)\u2014this has now doubled.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">Sizewell C also risks falling behind schedule after construction of two key access roads to the site were delayed.<\/p>\n<p class=\"wp-block-paragraph\">Chisholm believes many of the challenges faced in the construction of EDF\u2019s latest facilities are typical of those faced by large infrastructure projects in the U.K. \u201cAlthough the plant that we\u2019re building is based on technology called the European pressurized reactor\u2014which was designed for the European market and has already been built in France at Flamanville and in Finland at Olkiluoto\u2014U.K. regulatory bodies here had their own specific requirements,\u201d he says.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">A 55,000-page development consent order (almost 40-times the length of <em>War and Peace<\/em>) was required to secure planning approval for Hinkley Point C. The public body Natural England also advised EDF to design and install a \u2018fish disco\u2019\u2014an underwater acoustic deterrent to prevent marine life from swimming into the cooling pipes that feed the nuclear plant\u2019s turbines.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">\u201cWe spent almost a billion pounds on changes to the plant, which relate to reducing the impact on fish,\u201d Chisholm says. \u201cWe all love fish but you could have achieved a lot more for fish numbers and welfare at a much lower cost than that.\u201d\u00a0<\/p>\n<p class=\"wp-block-paragraph\">\u201cI understand and respect environmental standards and nuclear safety,\u201d he adds. \u201cThe question is, how much is enough?\u201d Chisholm claims that the current regulatory process leads people \u201cunwillingly\u201d to develop rules that \u201cmake no sense\u201d.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">The Fingleton Review of nuclear regulations recommended a more balanced approach to environmental protection and was adopted in full earlier this year after John Fingleton, who led the review, said Hinkley Point C had \u201cmore fish protection measures than any other power station in the world.\u201d<\/p>\n<p class=\"wp-block-paragraph\">The proposals aim to speed up the planning process for new nuclear projects by reforming environmental impact assessments but have been criticized by wildlife charities and environmental organizations for representing a false choice between nature protection and development.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">However, Chisholm is a fan of the Fingletonian approach and believes it could have benefits beyond the energy sector and in the wider economy. \u201cIf it was easier to get things built in this country, if it was easier to get things done, then we would all be better off,\u201d he says. \u201cIt would make Britain the best country in the world to do business.\u201d<\/p>\n<p class=\"wp-block-paragraph\"><em>For the latest coverage and updates from Fortune CEO Forum, as well as insights into the companies on our list,\u00a0visit this page.<\/em><\/p>\n<\/div>\n<p>#U.K #competitiveness #deficit #energy #coststhats #real #call #action #EDF #U.K #chair<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sir Alex Chisolm has been U.K,&hellip; <\/p>\n","protected":false},"author":1,"featured_media":4667,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[2172,124,1361,7705,7706,3971,7707,424,4676,1125,6624,1126,1059,62,1156],"class_list":["post-4666","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","tag-action","tag-call","tag-chair","tag-competitiveness","tag-coststhats","tag-deficit","tag-edf","tag-energy","tag-energy-industry","tag-fortune-500-europe","tag-fortune-ceo-forum","tag-londonarticles","tag-oil-and-gas","tag-real","tag-u-k"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - 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