US Edition
UK Approves Landmark £38 Billion Sizewell C Nuclear Plant
SUFFOLK, ENGLAND, JUL 22 – The project will create up to 10,000 jobs and supply clean electricity to six million homes, supporting UK energy security and climate targets, the government said.
- The UK government approved the £38 billion Sizewell C plant in Suffolk, with Ed Miliband signing the final investment decision, as DESNZ said.
- Adopting the Regulated Asset Base model, the project, first earmarked in 2010 and facing funding hurdles, shifts risk to consumers and enables investor returns during construction.
- Sizewell C is expected to create 10,000 direct jobs and power six million homes, the Treasury said, while households face an average £1 monthly bill increase during construction.
- The government will hold a 44.9% equity stake as the largest shareholder, marking the first time British people co-own a nuclear plant alongside private partners.
- Delivering more nuclear capacity than the past fifty years combined, supporting Britain’s grid decarbonisation by 2030.
104 Articles
104 Articles
Former British Prime Minister Tony Blair has always played a leading role, expressing views that appear to emerge countercurrent, but that in many cases reflect the latent debate in society. It happened at the end of April with nuclear power in the United Kingdom. The Tony Blair Institute for Global Change published a report entitled The Climate Paradox: Why We Need to Restart Action against Climate Change. Enveloped in a provocative approach, t…
Government signs deal to build £38bn Sizewell C nuclear plant
The government has signed a deal with private investors to build the Sizewell C nuclear power plant in Suffolk – although it’s twice as expensive as the original estimate. Household energy bills will go up by around a pound a month for at least a decade to fund the £38 billion pound project, which is expected to start generating power sometime in the 2030s. We spoke to energy minister Michael Shanks and asked him if he can guarantee that the cos…
The Epoch Times
Zero HedgeUK Approves $51 Billion Nuclear Plant
The UK government gave the final go-ahead on Monday for the Sizewell C nuclear power plant to be built in eastern England after securing investment from Canadian pension fund La Caisse, Centrica, and Amber Infrastructure. Sizewell C in Suffolk will be the UK’s second new nuclear plant in more than two decades, following the government’s 2013 deal with EDF to build Hinkley Point C in Somerset, which is now expected to come online in 2029 after ye…
Sizewell C Nuclear Project Secures £38 Billion Backing
Sizewell C, a nuclear power station project, has received a £38 billion sign-off, with significant investment from the UK government, Canadian fund La Caisse, Centrica, and French state companies, aiming to provide clean power and create jobs.
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