Latest news with #Sizewell
TimesLIVE
11-06-2025
- Business
- TimesLIVE
Britain to invest £14.2bn in Sizewell C nuclear project
Britain will invest £14.2bn (R338.8bn) to build the Sizewell C nuclear plant in southeast England, the government said on Tuesday, as part of its wider spending review which will define its priorities over the next four years. Britain is seeking to build new nuclear plants to replace its ageing fleet to help boost its energy security and reach its climate targets. The Sizewell C plant in Suffolk is expected to create around 10,000 jobs during the peak of construction and produce enough electricity to power around 6-million homes when built. "We need new nuclear to deliver a golden age of clean energy abundance because that is the only way to protect family finances, take back control of our energy and tackle the climate crisis," Britain's energy minister Ed Miliband said. Britain has been seeking to bring new investors into the project but Tuesday's announcement did not mention any other parties. The government has not said how much the project is expected to cost in total or given a date for when it is expected to be completed. Sizewell is expected to use a regulated-asset-base (RAB) funding model where companies building new plants would be paid during the construction phase, cutting down their development risk and allowing them to secure cheaper financing. Critics of RAB said it will leave taxpayers liable for any cost over-runs and delays during construction and add costs to energy bills at a time when many people are struggling. It would be only the second new nuclear plant built in Britain in more than two decades, after French state-owned EDF's Hinkley Point C which has had several delays and cost overruns and is expected to start operations in 2029, with an estimated cost of between £31bn and £34bn at 2015 prices. Simone Rossi, CEO of EDF in the UK, welcomed the British government's decision to go ahead with Sizewell C and said: "It is also a vote of confidence in Hinkley Point C, which has restarted the UK nuclear industry and built the experience and skills that will benefit Sizewell C.' Sizewell C was originally an EDF project but is majority owned by the British government with EDF a minority shareholder. The UK government's stake was 83.8% and EDF's stake was 16.2% at the end of December, EDF financial results showed in February with EDF's stake expected to decrease after Tuesday's announcement. The project's developer last December told Reuters there were five investors involved in a bidding process.
Telegraph
10-06-2025
- Business
- Telegraph
Ed Miliband's nuclear golden era could soon become a new dark age
This Government is fond of making grandiose claims for things that are yet to happen. The latest is Ed Miliband's declaration that we are in 'a golden era of nuclear power.' He has made a series of announcements that may or may not come to fruition over the next two decades, including a new nuclear plant at Sizewell with £14 billion of public money behind it. But Mr Miliband is getting well ahead of himself. History shows that few public policies of modern times have been more mishandled. Britain once led the world in nuclear energy and it was very much a cross-party venture. The post-war Attlee government established the Atomic Energy Research Establishment and the first ever commercial nuclear reactor was built at Calder Hall under the Tories in 1956 just as the Suez crisis increased concerns over the supply of oil. British nuclear expertise was second to none and sought around the world. Under both Conservative and Labour administrations, the UK became a leader in nuclear power development, commencing operations on 26 Magnox reactors between 1956 and 1971. The technology chopped and changed, moving from advanced gas-cooled reactors (AGRs) in the 1970s to pressurised water reactors (PWRs) and even a fast-breeder reactor experiment at Dounreay in Scotland, opened amid great fanfare by Margaret Thatcher but which has now closed. Her government set in train a plan for eight new PWRs, only one of which – Sizewell B – was ever built. What happened? One answer is North Sea oil and gas. Fears about fuel scarcity and sky high prices abated as more came ashore. Cheap gas made the cost of nuclear look prohibitive to politicians fixated only on the short term. Meanwhile, across the Channel, the French, with no oil and depleted coal reserves, invested instead in nuclear power. By 1979 they had installed 56 reactors, satisfying their power needs and even exporting electricity to other European countries, including us. The French are even going to be building Sizewell C. They produce 70 per cent of their electricity by nuclear fission, which does not emit CO2, and are not dependent on energy from volatile regions like the Gulf or despotic regimes like Russia. This serendipity was as much a function of force majeure as foresight. As the French said 'no oil, no gas, no coal, no choice'. As a result they have found themselves in a better position than Britain in the switch to low carbon renewables. Because of the apparent bonanza provided by North Sea oil, we neglected the one source of power that would help create self-sufficiency and meet climate change objectives. Only when it was too late and much of the industry's expertise had been lost did the last Labour government try to reactivate the nuclear programme. Ironically, it was Mr Miliband as Environment Secretary who revived the programme 15 years ago in the teeth of objections from Labour 'greens'. Yet only one new reactor at Hinkley Point – using French technology and, to begin with, Chinese finance – has been given the go ahead. It is way behind schedule by at least six years and massively over budget. For all the trumpet-blowing is the new Sizewell announcement just another milestone along a road paved with good intentions and wretched decision-making? We know it will be hugely expensive and the idea of it coming on stream within 10 years is for the birds. Since it is a copy of Hinkley it should benefit by learning from the mistakes made there. But few can have confidence in the project meeting any of its financial targets or the timetable for construction because nothing in this country ever does. Around the world there is a boom in nuclear power building as countries see it as an essential complement to wind and solar, not least because it provides a baseload and is not dependent on the weather. Sixty reactors are being built globally – 30 of them in China, which has also opened a thorium plant, something we could have done years ago since we have plentiful supplies and the process reduces waste. Is there any area in which the UK can press ahead? Tucked away in his Telegraph article this week, Miliband says the Government is ramping up spending on nuclear fusion research, though this seems more a token mention than an enthusiastic embrace. Yet fusion is one area where the British do have a great deal of expertise, with start-up companies well ahead of any European competitors in raising investment. It is always said that fusion is the future that never arrives because it involves replicating the same processes seen on the Sun. About 35 years ago two chemists shocked the world by claiming they had come up with 'cold fusion' obviating the need to produce the excessive temperatures needed. But the science was flawed, even though some adherents still think cold fusion is possible. Fusion technology is advancing rapidly and is likely to accelerate with the help of AI, high temperature superconducting magnets and supercomputers. But those in the business fear the Government is making the same mistakes as its predecessors in failing to measure the long-term in decades, not parliamentary sessions. China, Japan and America are now in the vanguard of a technology in which the UK once led, as it did with nuclear fission. Arguably, the most important aspect of Miliband's plan is the green light for a fleet of small modular reactors (SMRs), though getting planning agreements past local communities will be hard. Even this has been fraught with bureaucracy and delay. A competition to find a developer for SMRs has taken two years before alighting on Rolls Royce. Why has it taken so long? The potential offered by SMRs was identified years ago; yet once again, government dithering has led to everything being done when it is too late to fill the energy gap that will threaten black-outs in a few years' time. This is because the switch to renewables, the ban on new North Sea extraction licences and the demise of coal will make the decommissioning of existing nuclear power stations even more problematic before new ones come on stream. How long before Mr Miliband's golden era turns into a dark age?
The Independent
10-06-2025
- Business
- The Independent
Key questions answered on Sizewell C after Reeves confirms nuclear investment
Chancellor Rachel Reeves has signed off on a £16 billion investment in nuclear power, including funding to build the Sizewell C nuclear power station. It comes ahead of the spending review on Wednesday, where Ms Reeves will outline departmental budgets for the next three years. Here we answer key questions about Sizewell C and the Government's wider nuclear power plans. – What is the Sizewell C nuclear plant? Sizewell C was first proposed 15 years ago on a site by the hamlet Sizewell, which sits on the Suffolk coast between Aldeburgh and Southwold. The area is already home to two separate power stations, the decommissioned Sizewell A nuclear plant and pressurised water reactor Sizewell B. Nuclear power plants use a process called nuclear fission, where atoms split, releasing heat which is then used to generate electricity. – How much funding has the Government announced? The Chancellor said £14.2 billion will be invested to build the Sizewell C plant, marking the end of a long journey to secure funding for the project since it was first earmarked in 2010. At the peak of construction, Sizewell C is expected to provide 10,000 jobs. The company behind the project has already signed £330 million worth of contracts with local businesses. Elsewhere, the Government confirmed one of Europe's first small modular reactor (SMR) programmes, backed by £2.5 billion in taxpayers' money over five years. Ministers announced Rolls-Royce as the winners of a long-running competition on Tuesday for the bid to build the SMR programme. – How could Sizewell C contribute to the UK's future energy system? Sizewell C will power the equivalent of six million homes and is planned to be operation in the 2030s, the Government said. It is also understood that the plant will generate electricity for 60 years. The Treasury said that, combined with the ambition to build SMRs, it would deliver more new nuclear energy to the grid than over the previous half century by the 2030s. It comes as nuclear plants are seen as increasingly important electricity sources as the Government tries to decarbonise Britain's grid by 2030, replacing fossil fuels with green power. The last time Britain completed one was in 1987, which was the Sizewell B plant. Hinkley Point C, in Somerset, is under construction and is expected to produce enough power for about six million homes when it opens, but that may not be until 2031. Sizewell C is part of the Government's wider ambitions to support clean power, such as wind and solar, and decarbonise the country's power grid to tackle the climate crisis and ensure future energy security. – What are small modular reactors? SMRs are a nuclear fission reactor that are a fraction of the size of a traditional nuclear plant. This means they can be built on smaller sites across the country, closer to where the electricity is needed. Still an emerging technology, only China and Russia have successfully built operational SMRs. The Government says the newly-announced UK project could support up to 3,000 new skilled jobs and power the equivalent of around three million homes, with a first site expected to be allocated later this year by state-owned Great British Energy – Nuclear. The hope is eventually attract private investment, especially from tech companies, which might build SMRs to power data centres. – Who has welcomed the Government funding? Trade unions welcomed the move, which the Treasury said would go towards creating 10,000 jobs, including 1,500 apprenticeships. The GMB union said giving Sizewell C the go-ahead was 'momentous'. Regional secretary Warren Kenny said: 'Nuclear power is essential for clean, affordable, and reliable energy – without new nuclear, there can be no net zero. 'Sizewell C will provide thousands of good, skilled, unionised jobs and we look forward to working closely with the Government and Sizewell C to help secure a greener future for this country's energy sector.' Mike Clancy, general secretary of Prospect, said: 'Delivering this funding for Sizewell C is a vital step forward, this project is critical to securing the future of the nuclear industry in the UK. 'New nuclear is essential to achieving net zero, providing a baseload of clean and secure energy, as well as supporting good, unionised jobs. 'Further investment in SMRs and fusion research shows we are finally serious about developing a 21st-century nuclear industry. 'All funding must be backed up by a whole-industry plan to ensure we have the workforce and skills we need for these plans to succeed.' – Who has criticised the plans? Various campaigners oppose the plant and have criticised the decision to commit the funding, saying it is still not clear what the total cost will be. Alison Downes of Stop Sizewell C said ministers had not 'come clean' about the full cost of the project, which the group has previously estimated could be some £40 billion. 'There still appears to be no final investment decision for Sizewell C, but £14.2 billion in taxpayers' funding, a decision we condemn and firmly believe the Government will come to regret. 'Where is the benefit for voters in ploughing more money into Sizewell C that could be spent on other priorities, and when the project will add to consumer bills and is guaranteed to be late and overspent just like Hinkley C? 'Ministers have still not come clean about Sizewell C's cost and, given negotiations with private investors are incomplete, they have signed away all leverage and will be forced to offer generous deals that undermine value for money. Starmer and Reeves have just signed up to HS2 mark 2.' Environmental campaigners have also warned of the impact the plant could have on local wildlife, given Sizewell is surrounded by protected areas. The whole coast is an area of outstanding natural beauty (AONB), the shingle beach is a site of special scientific interest (SSSI) while the nearby Sizewell Marshes and Leiston Sandlings are special protected areas (SPAs) for birds. Many argue that ministers should focus on investing in renewable energy, such as wind farms, instead.
ITV News
10-06-2025
- Business
- ITV News
Government's Sizewell C backing shows Putin he 'can't put his boot on our throat', says Keir Starmer
Sir Keir Starmer said his government's commitment to the Sizewell C showed there would be no more 'dithering' about backing nuclear power - and ensure Vladimir Putin "can't put his boot on our throat". The prime minister said the 'change of mindset' would help free the UK from reliance on international fossil fuel markets and prevent price spikes such as those in the wake of Russia's invasion of Ukraine. Chancellor Rachel Reeves signed off on £14.2bn of investment to build the new Sizewell C nuclear plant in Suffolk, while Rolls-Royce has been named as the preferred bidder to build SMRs in a programme backed by £2.5 billion of taxpayers' cash. Speaking at a college in Ipswich, Sir Keir said successive governments had 'dithered and delayed' over nuclear power. He said: 'The last reactor was 1995, 30 years ago, and I think that was Sizewell B. 'So here, to put this down today, is really important. It's not just an important decision for the future, it's a change of mindset. 'No more dithering, no more delay, no more being unclear about what we're going to do, a real statement of intent as we go forward.' He added: 'Having our own energy in this country that we control, gives us security, gives us independence, so Putin can't put his boot on our throat. 'And it means that we can control the prices in a way that we haven't been able to in recent years, which has meant very high prices for businesses, for households and for families.' The chancellor confirmed the government would back the new nuclear plant on the Suffolk coast to the tune of £14.2bn - although it has been unable to confirm full financing for the project and issue a Final Investment Decision. Trade unions welcomed the Sizewell move, which the Treasury said would go towards creating 10,000 jobs, including 1,500 apprenticeships. Nuclear plants are seen as increasingly important electricity sources as the government tries to decarbonise Britain's grid by 2030, replacing fossil fuels with green power. The joint managing directors of Sizewell C, Julia Pyke and Nigel Cann, said: 'Today marks the start of an exciting new chapter for Sizewell C, the UK's first British-owned nuclear power plant in over 30 years.' EDF has already signed £330m worth of contracts with local businesses. The plant, which will power the equivalent of six million homes, is planned to be operational in the 2030s. The GMB union said giving Sizewell C the go-ahead was 'momentous'. Regional secretary Warren Kenny said: 'Sizewell C will provide thousands of good, skilled, unionised jobs and we look forward to working closely with the government and Sizewell C to help secure a greener future for this country's energy sector.' But the head of a campaign group opposing the plant criticised the decision to commit the funding, saying it is still not clear what the total cost will be as the final investment decision has not yet been announced and the government is still seeking private investment. Alison Downes, of Stop Sizewell C, said ministers had not 'come clean' about the full cost of the project, which the group have previously estimated could exceed £40bn. The £14.2bn comes on top of £3.7bn already committed to the project. Ms Downes said: 'With the continued secrecy about Sizewell C's total cost, how can voters decide whether the £18bn pledged to Sizewell C is a good use of their money? 'There is no dispute the project will add to consumer bills during construction, and it is virtually guaranteed to be late and overspent just like Hinkley C.' Officials hope SMRs will be cheaper and quicker to build than traditional power plants, and projects could be connected to the grid by the mid-2030s. Speaking at the GMB union's congress in Brighton, Ms Reeves said: 'The UK is back where it belongs, taking the lead in the technologies of tomorrow. 'This Labour government is investing in the biggest rollout of nuclear power in a generation.' The SMR project could support up to 3,000 new skilled jobs and power the equivalent of around three million homes, with a first site expected to be allocated later this year by state-owned Great British Energy – Nuclear.
Yahoo
10-06-2025
- Politics
- Yahoo
What is Sizewell C and what does it mean for Suffolk?
Plans for the Sizewell C nuclear power station have taken a step closer to the final go-ahead after the government announced significant funding. But what exactly is Sizewell C and what are the arguments for and against it? French energy company EDF wants to build a new two-reactor nuclear power station on the east Suffolk coastline that could generate 3.2 gigawatts of electricity. It claims Sizewell C could power the equivalent of about six million homes and will generate electricity for 60 years. The power station will sit right next to Sizewell B that has been operating since 1995, just off Sizewell beach, close to the town of Leiston. The decommissioned Sizewell A site, which first opened in 1967, can also be found here. To generate nuclear power in non-military reactors, uranium atoms are bombarded by much smaller neutron particles. This causes the atoms to break down in process called nuclear fission, which releases huge amounts of energy as heat. The heat is used to boil water, producing steam, which drives turbines and generates electricity. According to the International Atomic Energy Agency, the plants are among the "safest and most secure facilities in the world" and are subject to strict international safety standards. In 2008, the then Labour prime minister, Gordon Brown, said the UK needed to increase its nuclear power capacity. Two years later during the coalition government between the Conservatives and Liberal Democrats, Sizewell was identified as a site suitable for a new power station. In November 2012, EDF launched its first public consultation to get the feedback of local people ahead of any formal planning application. Three other public consultations were held, with the final one finishing in September 2019. Sizewell C said more than 10,000 East Suffolk residents had been involved in the consultations. In May 2020, EDF submitted an application for a development consent order to build the power station. This is a legal document that grants permission for large-scale and nationally significant projects in England and Wales. This was granted by the government in July 2022 despite the Examining Authority recommending it was not approved over water supply and nature concerns. The site has also had its nuclear licence granted too in May 2024. While both these have been given, there were still questions over how it would be funded. The power station is expected to cost about £20bn. EDF previously rejected claims the project would cost £40bn, but did accept its nuclear plant being built at Hinkley Point, in Somerset, would cost more than that figure. The government confirmed a total of £3.6bn worth of investment had been put into the project so far. This included some funding from a subsidy scheme called Devex. The government said it would now be investing £14.2bn to build Sizewell C - this figure included £2.7bn announced in November last year, a spokesperson for the Department for Energy Security confirmed. It means £17.8bn has been invested in the project in total. However the government said a final decision on the funding model was due later this summer as the project was still in need of private investors. Ministers and EDF previously said there had been plenty of potential investors coming forward and an agreement was close to being finalised. No new nuclear power plant has opened in the UK since 1995 when Sizewell B began operating. According to the government, all existing nuclear stations with the exception of Sizewell B, are likely to be phased out by the early 2030s. The government has previously said it was on a "mission" to deliver clean power by 2030 and reach its net zero target. Nuclear power stations do not produce greenhouse gases like carbon dioxide or methane while in operation and therefore it could be key to help with this goal. The government also said this "clean, homegrown power" could play a part in building economic growth, improve its energy security and reduce the country's dependency on fossil fuels. Another key argument around the project is the jobs it could create for the surrounding areas. While in construction, the project could employ up to 10,000 people and once in operation there will be 900 people employed at Sizewell C. There has been strong opposition against Sizewell C since it was announced. Campaign groups Stop Sizewell C and Together Against Sizewell C both fear the plant could have negative effects across a range of different areas. Both have significant worries over the environmental impact and the Royal Society for the Protection of Birds has similarly protested in the past over this fear. Sizewell C has argued it has worked to protect the wildlife around the site by rehoming displaced animals in new nature reserves it has created. The campaign groups also argue the project is "too slow" to combat climate change and is too expensive. Alison Downes, director of Stop Sizewell C, said the government would come to "regret" its most recent investment announcement and felt the money could be spent elsewhere. If the final investment decision on the funding model this summer goes ahead without issue, Sizewell C could be operational by the 2030s. Sizewell C also recently announced plans to open a post-16 college in Leiston which it hoped would help train up its future workforce. Follow Suffolk news on BBC Sounds, Facebook, Instagram and X. Sizewell C boss 'optimistic' it will get go-ahead Latest legal challenge against Sizewell C launched What does Leiston make of Sizewell C's plan for a college? 'Nothing prepared us for Sizewell C devastation' EDF reject claims Sizewell C will cost £40bn Five signs Sizewell C is gearing up for go-ahead Sizewell C
