The government has finally confirmed a £14.2bn investment in the upcoming Sizewell C nuclear plant, as well as a further £2.5bn for small modular nuclear reactors (SMR).
The expansion of Britain’s nuclear energy capabilities are considered to be a key part of the long-term decarbonisation of the UK’s energy grid. But despite the UK’s strong nuclear legacy – opening the world’s first commercial nuclear power station in the 1950s – no new facilities have opened in the UK since 1995, with all of the existing fleet except Sizewell B likely to be phased out by the early 2030s.
Initial construction works on Sizewell began last year, although the government had still not confirmed the full extent of its funding package until today.
Energy secretary Ed Miliband said the decision will kickstart a “golden age” of nuclear energy in the UK as part of his administration’s efforts to decarbonise the electricity grid. “This is the government’s clean energy mission in action – investing in lower bills...