The government has proposed subsidising the construction of the Sizewell C nuclear power plant by £5.5bn as the project struggles to attract additional investment.

With the UK’s ageing fleet of eight nuclear power stations in need of replacement, and only Hinkley Point C currently undergoing construction, Sizewell C will play an important role in backing up renewable energy in the switch away from fossil fuels.

Both projects are being built by the French state-owned energy giant EDF, but Sizewell is not expected to be finished until 2036; once complete it will provide an estimated 7% of the UK’s electricity needs.

The Department for Energy Security and Net Zero (DESNZ) has launched the Sizewell C Devex Scheme, which will provide the government with greater flexibility to cover development expenditure costs and ensure that the plant is completed.

EDF and the government both hold 50% stakes in the nuclear project and have been working together to try and bring in additional private investors...