EDF and the government have signed an agreement to extend the lifespan of Sizewell B power station in Suffolk until 2055.
Since early 2024, French energy giant EDF has been petitioning the UK government to allow it to continue operating the Sizewell B nuclear power plant for 20 years beyond its planned 2035 closure date.
The fate of the power station has now been decided upon with the two parties having signed on a Contract for Difference (CfD) agreement to extend the lifetime out to 2055.
CfD is a government scheme to incentivise investment in renewable energy projects by offering developers a 15-year contract that guarantees a fixed price (or strike price) for the electricity they generate, providing a more stable revenue stream. Under the agreement, a strike price of £70.50/MWh (2025 prices) has been agreed.
First commissioned in 1995, Sizewell B is the UK’s only operational pressurised water reactor, producing an average of 9TWh of electricity a year. Originally scheduled to shut down...