PRESS RELEASE : Further steps to prepare Sizewell C for construction [January 2024]

The press release issued by the Department for Energy Security and Net Zero on 22 January 2024.

£1.3 billion additional investment in the nuclear plant, key to expanding nuclear energy in the UK and providing stable, cheaper and more secure power in the long-term.

The government has made an additional £1.3 billion available to support the construction of Sizewell C, which will create thousands of jobs and enough stable, cheaper and more secure power for up to 6 million homes. The largest funding package to date will allow early construction works to continue ahead of a final investment decision later this year.

The funding – made available from existing budgets – will support ongoing preparatory works such as improvements to roads and rail lines around the Suffolk site, ensuring the necessary local infrastructure is in place before full construction begins. Committing further government support at this stage will help the project stay on schedule and keep down overall costs.

The Development Consent Order (DCO) triggered by Sizewell C on 15 January gave the formal green light for construction to begin and released £250 million funding for initiatives for the local community and environment.

Investing an additional £1.3 billion consolidates the government’s position as the majority shareholder in the project, reached in December 2023. It follows a £700 million funding pledge in November 2022 and a further £511 million agreed last summer.

Earlier this month the government announced the biggest expansion of nuclear power for 70 years, with the Civil Nuclear Roadmap setting out how the UK will quadruple nuclear power generation to up to 24GW by 2050. It commits to exploring another GW-scale power plant similar in scale to Sizewell C, simplifying regulation and building a fleet of Small Modular Reactors.

Nuclear Minister Andrew Bowie said:

We are making fantastic progress on the next GW-scale power plant in the UK’s nuclear pipeline.

This investment injection means we can steam ahead with work on Sizewell C ahead of the final investment decision targeted later this year.

It’s a win for our energy security and sends a strong message to investors that Britain is serious about its low-carbon, homegrown nuclear-powered future, providing reliable, cheaper power for British families.

Julia Pyke and Nigel Cann, Joint Managing Directors at Sizewell C, said:

This significant investment underlines the importance of Sizewell C for Britain and is a further sign of confidence in our team to deliver it. With the project now in construction, the funding means we can step up activity in Suffolk and deliver on our commitments to local communities.

Sizewell C will build on the huge contribution of Hinkley Point C in restarting nuclear construction in Britain. It will bring another big boost to British nuclear skills and training, putting the industry in an even better position to deliver the other projects this country needs for its low carbon future.

In addition to the 500 people employed so far, Sizewell C has plans to award 70% of the value of construction to UK businesses, helping to create thousands of jobs in Suffolk and nationwide. The project will also create 1,500 apprenticeships, helping to build the skills base to support the UK’s long-term plans for new nuclear.

Once operational, the plant will generate 3.2GW of electricity, equating to 7% of the UK’s needs and enough to power up to 6 million British households for over 60 years.