Reeves signs off on £14bn to build new nuclear plant Sizewell C
The Chancellor is set to confirm the funding at the GMB Congress on Tuesday.
Energy Secretary Ed Miliband said new nuclear power capacity was needed to deliver a 'golden age of clean energy abundance'.
Chancellor of the Exchequer Rachel Reeves is set to confirm £14.2 billion of investment in the new Sizewell C nuclear plant(Stefan Rousseau/PA)
Trade unions welcomed the move, which the Treasury said would go towards creating 10,000 jobs, including 1,500 apprenticeships.
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.
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.
The Energy Secretary said: '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.'
It will get the UK off the 'fossil fuel rollercoaster', he separately told The Guardian.
'We know that we're going to have to see electricity demand at least double by 2050. All the expert advice says nuclear has a really important role to play in the energy system.
'In any sensible reckoning, this is essential to get to our clean power and net zero ambitions.'
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.'
At the peak of construction, Sizewell C is expected to provide 10,000 jobs and the company behind the project has already signed £330 million 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 Government is also due to confirm one of Europe's first small modular reactor programmes and will invest £2.5 billion over five years in fusion energy research as part of plans to boost the UK's nuclear industry.
The GMB union said giving Sizewell C the go-ahead was 'momentous'.
Ed Miliband said new nuclear power capacity was needed to deliver a 'golden age of clean energy abundance' (Kin Cheung/PA)
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.'
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 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.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
South Wales Argus
an hour ago
- South Wales Argus
Torfaen Council to vote on Crown Estate control in Wales
If agreed, the June 10 motion would make Torfaen the 22nd and final Welsh local authority to support the proposal, following a campaign by YesCymru. The Crown Estate is currently managed by the UK Government. YesCymru views the motion as an opportunity for a united Welsh stance on national sovereignty. YesCymru director Rob Hughes said: "Should we achieve unanimous support across all local authorities and the Senedd on Tuesday, the message from Wales will be loud and clear. "We call once again on the UK Government to do the right thing and transfer control of the Crown Estate to Wales." The motion in Torfaen has been introduced by Labour councillor for Fairwater Ward, Jayne Watkins. Mr Hughes has praised the cross-party collaboration that has pushed the campaign to this point. "When Wales works together, Wales works well," he said. "This campaign proves that radical, positive change is possible when people from all walks of life unite for the common good. "The future of Wales is ours to shape, and together, our potential is limitless."
Sky News
an hour ago
- Sky News
Sizewell C: Govt commits £14.2bn to new nuclear power station
Fifteen years after the Sizewell C nuclear power station was proposed, the government will announce a £14.2bn commitment to the Suffolk site. Chancellor Rachel Reeves is set to confirm the funding at the GMB union conference ahead of the spending review on Wednesday, which will set departmental budgets until 2029. Energy Secretary Ed Miliband will call it a "golden age" of nuclear to boost the UK's energy security. The funding will go towards creating 10,000 jobs, the government will say, including 1,500 apprenticeships, and will support thousands more jobs across the UK. On Monday, it was revealed Britain's nuclear power sector grew by a quarter in 2024 to £20bn compared with three years ago, underpinned by a record workforce which has increased by a third, according to research by the Nuclear Power Association. About 87,000 people now work in the industry, with the rise largely driven by new nuclear power projects at Sizewell C and Hinkley Point C in Somerset. Sizewell C was initially proposed by French energy company EDF and China General Nuclear Power Group, but in 2022 the Conservative government bought the Chinese company out and the state now owns 83.5% of the project with EDF. The green light for construction to begin was given in January 2024 under the Conservative government, and at last autumn's budget, Ms Reeves announced a £2.7bn commitment to Sizewell C and said a final commitment would be announced in the 2025 spending review. Construction is expected to take between nine and 12 years and when it is complete, it will provide around six million homes with nuclear energy. A total of £330m of contracts have been signed with local companies, with 70% of all contracts expected to go to 3,500 British suppliers. Ms Reeves said: "Today we are once again investing in Britain's renewal, with the biggest nuclear building programme in a generation. This landmark decision is our Plan for Change in action. "We are creating thousands of jobs, kickstarting economic growth and putting more money in people's pockets." HS2 all over again? Campaign group Stop Sizewell C called it "HS2 mark 2" after the high-speed train line that has faced high costs, delays and parts of it being axed. They questioned how much money the government will ultimately invest in the nuclear power station as they said no information has been provided about the expected total costs. 2:09 Alison Downes, from Stop Sizewell C, said: "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." Or vital step towards domestic clean energy? But the funding was called a "vital step toward delivering the secure, domestic clean energy" the UK needs by "pro-growth" campaign group Britain Remade. Sam Richards, CEO of the Conservative thinktank, added: "The government must go much further."
Belfast Telegraph
an hour ago
- Belfast Telegraph
UK has one of ‘worst statutory leave offers for fathers in developed world'
In a new report, the House of Commons committee said a maximum of two weeks' paternity leave is 'completely out of step with how most couples want to share their parenting responsibilities' and 'entrenches outdated gender stereotypes about caring'. The committee has urged the Government to either amend the Employment Rights Bill to legislate for a day one right to paid leave or commit to 'considering this vital change within its review' in consultation with employers. It has also called on the Government to consider raising paternity pay to the level of maternity pay in the first six weeks – 90% of average earnings. The paternity and shared parental leave report by the committee said working parents 'will be let down by a review that leads only to tinkering around the edges of the system'. Chairwoman of the Women and Equalities Committee Sarah Owen said the UK's parental leave system was in 'urgent need of an overhaul to fit with the reality of working parents' lives'. The Labour MP for Luton North said reform 'must start with longer and better paid paternity leave'. Ms Owen said: 'It's essential the Government's proposed review addresses the system's fundamental failings, including low statutory pay, inadequate leave periods for fathers and others, exclusion of many working parents and guardians, plus design flaws and unnecessary complexity in the Shared Parental Leave scheme. 'The UK's parental leave system has fallen far behind most comparable countries, and we now have one of the worst statutory leave offers for fathers and other parents in the developed world.' The Labour MP added: 'Ministers must commit to meaningful reforms in the medium-term, with a view to going further towards a more gender equal parental leave system. 'Tinkering around the edges of a broken system will let down working parents. While much-needed substantial change to our paid parental leave system will require considerable financial investment, this would be outweighed by wider societal and economic benefits.' The report states that the UK's rate of statutory parental pay is 'completely out of kilter with the cost of living, has not kept pace with inflation and is far below rates in most comparable countries'. It recommends phased introduction of increases to statutory pay across the system to bring rates for all working parents up to 80% or more of average earnings or the real Living Wage. The lack of provision for self-employed fathers is 'deeply unfair', the report adds. The committee recommends that the Government consider options for providing statutory paid leave for all self-employed working fathers as part of its review of the parental leave system, including introducing a paternity allowance for self-employed fathers and other parents, similar to maternity allowance. The report states that the shared parental leave system is 'extremely difficult for most parents and their employers to understand'. It said a forthcoming review must examine the function and necessity of eligibility rules, with a view to 'simplifying or removing the employment status, time in service and earnings criteria'. The committee said the review should examine approaches taken in overseas systems, including the German 'partnership bonus' and Portugal's 'sharing bonus', which provide additional paid leave to couples in which both parents take a substantial portion of leave while the other returns to paid work.
