The UK Government has announced a further £170 million investment in Sizewell C, with hopes that it will speed up preparations to enable construction on the new nuclear power station.
Late last year it was rumoured that Sizewell C could be on the chopping block as the UK Government scrambled to find cost savings, however now the Government is looking to spend a further £170 million to ensure construction can begin as soon as possible. That’s on top of the £700 million that’s already been pledged towards the construction of Sizewell C by the UK Government.
The additional £170 million is set to be used to prepare the Sizewell C site for future construction, procure key components from the project’s supply chain, and expand its workforce.
This follows the launch of Great British Nuclear (GBN), which the Government hopes will oversee the rapid expansion of nuclear power in the UK. That’s despite concerns from some within the industry that GBN lacks any money or power in which to do so.
Commenting on the new funds for Sizewell C, Grant Shapps, Energy Security Secretary, noted, “Following the launch of Great British Nuclear, and our plans for a massive revival of nuclear power, I am proud to be demonstrating the government’s commitment to the continued development of Sizewell C.
“Sizewell C represents the bridge between the ongoing construction of Hinkley Point C and our longer-term ambition to provide up to a quarter of the UK’s electricity from homegrown nuclear energy by 2050.
“Our new nuclear fleet will provide clean, reliable, and abundant energy whilst driving down bills, boosting economic growth and ensure that the UK is never held to energy ransom by tyrants like Putin.”
Andrew Bowie, Nuclear and Networks Minister, added, “With government support, our nuclear industry will play a critical role in supplying cleaner, home-grown energy, and boost our energy security by reducing our reliance on fossil fuels from abroad.
“The steps we’re taking today will speed up the development of one of our biggest projects, Sizewell C, towards final approval, which would enable construction to start as soon as possible, supporting thousands of jobs for communities in Suffolk and across the country”The additional funds for Sizewell C comes despite a recent report from the Science, Innovation and Technology Committee warning that the new nuclear power station may not represent good value for UK taxpayers.