Government pledges £14bn towards Sizewell C nuclear power plant in Suffolk ahead of Spending Review
The government has confirmed a £14.2bn investment to build the Sizewell C nuclear plant - but still cannot confirm the project is fully funded.
Ministers claim the reactor - the third to be built on the Suffolk coast - will create 10,000 jobs, 1,500 apprenticeships, and generate enough "clean" energy to power millions of homes.
It will be part of a "golden age of clean energy abundance" which will pave the way for household bills and help tackle the climate crisis, according to Energy Secretary Ed Miliband.
But the government has had to stop short of issuing a "Final Investment Decision", which can only be given once full investment has been secured.
Opponents insist the government "will come to regret" this latest backing for Sizewell C, claiming the project "will add to consumer bills and is guaranteed to be late and overspent", comparing it to Hinkley Point C, the nuclear plant under construction in Somerset.
Sizewell, which sits just a few miles south of celebrity hotspot Southwold and borders the former Springwatch base at RSPB Minsmere, was first identified as a potential site for a new plant back in 2009.
The project was granted development consent by the then-Conservative government in July 2022 and Sir Keir Starmer made a further £5.5bn available to the project last August.
Preparatory work has already been started by French energy firm EDF and contracts worth around £330m have already been signed with local companies.
The government said Tuesday's announcement would end "years of delay and uncertainty".
"We will not accept the status quo of failing to invest in the future and energy insecurity for our country," said Mr Miliband.
"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.
"This is the government's clean energy mission in action - investing in lower bills and good jobs for energy security."
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.'But with an estimated cost of at least £20bn - and some experts predicting it could exceed £40bn - EDF continues to seek investors in the project.
The government said it expected to issue a Final Investment Decision in the summer.
Alison Downes, from the Stop Sizewell C campaign group, said: "There still appears to be no Final Investment Decision for Sizewell C, but £14.2bn 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 two."
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.
The reactor at Hinkley Point in Somerset is thought to be five years behind its original target - with an estimated end date of 2031 - and many billions of pounds over budget.
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