BusinessPostCorner.com
No Result
View All Result
Monday, July 7, 2025
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
BusinessPostCorner.com
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
No Result
View All Result
BusinessPostCorner.com
No Result
View All Result

Sizewell C nuclear plant gets £14.2bn government investment

June 9, 2025
in Business
Reading Time: 6 mins read
A A
0
Sizewell C nuclear plant gets £14.2bn government investment
ShareShareShareShareShare
Alice Cunningham

BBC News, Suffolk

Sizewell C A computer-generated image of what Sizewell C nuclear power station could look like, multiple buildings are shown including two with domes.Sizewell C

The government has said it will invest £14.2bn into the Sizewell C nuclear power plant

The government has committed £14.2bn of investment to build the new Sizewell C nuclear plant on the Suffolk coastline, ahead of the Spending Review.

It will create 10,000 direct jobs, thousands more in firms supplying the plant and generate enough energy to power six million homes, the Treasury said.

Chancellor Rachel Reeves said it was a “landmark decision” that would kickstart “economic growth”.

However, Alison Downes, director of pressure group Stop Sizewell C, condemned the announcement, adding it was a move the government would “come to regret”.

Reeves said the project would be the “biggest nuclear building programme in a generation”.

Energy Secretary Ed Miliband said nuclear energy would “deliver a golden age of clean energy abundance” and help boost the UK’s energy security.

The government insists that nuclear power provides enormous amounts of low carbon, non-intermittent energy that forms a crucial part of the UK’s energy future.

However, Sizewell C will take at least a decade to complete and the plant of which it is a copy, Hinkley Point C in Somerset, will switch on in the early 2030s – more than a decade late and costing billions more than originally planned.

Martin Giles/BBC Stop Sizewell C director Alison Downes outside in Suffolk. She has shoulder length blonde hair.Martin Giles/BBC

Alison Downes of Stop Sizewell C condemned the government’s announcement

The final investment decision on the funding model for the plant is due later this summer.

The Sizewell C project has faced opposition at local and national level from those who think it will prove to be a costly mistake.

Ms Downes said she believed the money could be spent on other priorities and feared the project would “add to consumer bills”.

“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,” she said.

“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.”

On Saturday about 300 protesters demonstrated on Sizewell beach against the project.

Jamie Niblock/BBC New road and large area with diggers and earthmoving equipmentJamie Niblock/BBC

Large areas of land have already been cleared in preparation for the building of Sizewell C

Sizewell C has had other pots of funding confirmed over the years by government and in September 2023 a formal process to raise private investment was opened.

Ministers and EDF have previously said there were plenty of potential investors and they were close to finalising an agreement on it.

Once operational, Sizewell C is expected to employ 900 people.

As well as Sizewell C, the government said it was investing £2.5bn over five years into research and development for fusion energy and making investments into its defence nuclear sector.

This included development of HMNB Clyde and investment in Sheffield Forgemasters.

Credit: Source link

ShareTweetSendPinShare
Previous Post

Chipotle CEO says they will open a new restaurant almost every 24 hours this year, thanks to AI

Next Post

Trump wants $1,000 investment accounts to help newborn Americans get a ‘big jump on life.’ Critics say poor families have more immediate needs

Next Post
Trump wants ,000 investment accounts to help newborn Americans get a ‘big jump on life.’ Critics say poor families have more immediate needs

Trump wants $1,000 investment accounts to help newborn Americans get a ‘big jump on life.’ Critics say poor families have more immediate needs

17 marketing job descriptions for hiring managers to attract ideal candidates

17 marketing job descriptions for hiring managers to attract ideal candidates

June 30, 2025
Ryanair increases size limits for free cabin bags

Ryanair increases size limits for free cabin bags

July 3, 2025
Empowered by AI: The New Era of Employee Experience and Talent Strategy

Empowered by AI: The New Era of Employee Experience and Talent Strategy

June 30, 2025
UK disposable income falls at fastest rate since 2023

UK disposable income falls at fastest rate since 2023

June 30, 2025
Employers added 147K jobs in June, including 200 in accounting

Employers added 147K jobs in June, including 200 in accounting

July 3, 2025
Lyons says 86% of NI pensioners to be eligible for payment

Lyons says 86% of NI pensioners to be eligible for payment

July 3, 2025
BusinessPostCorner.com

BusinessPostCorner.com is an online news portal that aims to share the latest news about following topics: Accounting, Tax, Business, Finance, Crypto, Management, Human resources and Marketing. Feel free to get in touch with us!

Recent News

Trump calls Musk’s new political party plan ‘ridiculous’

Trump calls Musk’s new political party plan ‘ridiculous’

July 7, 2025
Russian Ministry Starts Compiling National Registry of Crypto Mining Rigs

Russian Ministry Starts Compiling National Registry of Crypto Mining Rigs

July 6, 2025

Our Newsletter!

Loading
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2023 businesspostcorner.com - All Rights Reserved!

No Result
View All Result
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources

© 2023 businesspostcorner.com - All Rights Reserved!