Britain will invest £14.2 billion in building the Sizewell C nuclear power plant in Suffolk, marking a major step in its long-term strategy to boost energy security and meet climate goals.

The UK government announced a £14.2 billion investment in the construction of the Sizewell C nuclear power plant in southeast England. The funding forms part of the country’s broader spending review, outlining strategic priorities over the next four years.

The project is central to Britain’s push to modernize its aging nuclear fleet, reduce reliance on fossil fuels, and reinforce energy independence amid global supply challenges. Once operational, Sizewell C is expected to power approximately six million homes and create 10,000 jobs at the peak of construction.

"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," said Energy Minister Ed Miliband.

Although the government has not disclosed the total estimated cost or completion timeline, the project will use the Regulated Asset Base (RAB) model. This approach allows developers to receive funding during construction, helping reduce financing risks. However, critics warn that the RAB model could expose taxpayers to budget overruns and raise consumer energy bills.

Sizewell C would be only the second new nuclear plant built in the UK in more than 20 years, following Hinkley Point C - a project led by France’s EDF that has faced delays and cost escalations. EDF remains a minority shareholder in Sizewell C, holding a 16.2% stake as of late 2023, with the UK government owning 83.8%. This balance is expected to shift further following the latest investment announcement.

Simone Rossi, CEO of EDF UK, welcomed the decision, calling it a “vote of confidence” in both the project and in the skills built through Hinkley Point C.

The government has not confirmed whether other investors will be brought into the project, although five entities were reportedly involved in a bidding process as of last December.

Sizewell C represents a cornerstone of the UK’s long-term green energy plan - a move seen as vital in achieving net-zero targets while maintaining energy resilience.

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