Sizewell C has today been given its Final Investment Decision by the British Government, unlocking the biggest investment in clean, homegrown energy in a generation and marking a major step in delivering secure, cheaper, low-carbon electricity for the UK.
No new nuclear plant has opened in the UK since 1995, with all of the existing fleet except Sizewell B likely to be phased out by the early 2030s. In a world-first for the industry, today’s decision also unlocks financing for British nuclear energy by adopting the Regulated Asset Base model, which uses both public investment and private capital.
Once online, Sizewell C will supply electricity to the equivalent of six million homes for at least 60 years and is to deliver electricity system savings of £2 billion a year on average once operational.