Ahead of the upcoming Spending Review, the Chancellor of the Exchequer, Rachel Reeves, has announced that the UK government will invest \u00a314.2 billion to build the Sizewell C nuclear power plant.<\/p>\n
The Sizewell C nuclear power plant will provide 10,000 people with employment at the peak of its construction, with \u00a3330 million in contracts already being awarded to local companies and 3,500 total suppliers expected to be granted contracts ahead of the plant\u2019s construction. <\/p>\n
No nuclear power plants have been opened in the UK since 1995, and every nuclear plant except the Sizewell B plant is set to be decommissioned by the early 2030\u2019s.<\/p>\n
In September last year, a new subsidy scheme was launched to support the development of Sizewell C, will provide the government with more flexibility to cover development expenditure costs and allow up to \u00a35.5 billion in support.<\/a> French-owned energy major EDF is developing the Sizewell C nuclear plant, which began construction in January 2024. EDF Energy itself has invested \u00a31.3 billion into the project<\/a>.<\/p>\n Reeves expressed the government\u2019s pride in its nuclear future and the role it will play in the country\u2019s energy transition.<\/p>\n \u201cToday we are once again investing in Britain\u2019s renewal, with the biggest nuclear building programme in a generation. This landmark decision is our Plan for Change in action.\u00a0\u00a0We are creating thousands of jobs, kickstarting economic growth and putting more money in people\u2019s pockets,\u201d Reeves said.<\/p>\n Furthermore, the government has selected Rolls-Royce SMR as the preferred partner for building small modular reactors (SMRs) in the UK. This follows an extended design and tender process, which saw Rolls-Royce SMR go through a number of processes with the UK government<\/a> and the Nuclear Industry Association (NIA). <\/p>\n