Tue, 22 Jul 2025

Tue, 22 Jul 2025 Sizewell C nuclear power plant costs rise to £38bn

Households will pay £1 a month towards the construction of the UK's second new nuclear power plant.

* The cost of building Sizewell C nuclear power plant in Suffolk has risen to £38bn, up from a previous estimate of £20bn.
* This will increase household energy bills by around £1 per month for at least a decade, with total costs expected to be lower once the plant is operational.
* The government will take a 44.9% stake in the project and has secured investment from companies including British Gas-owner Centrica.
* The reactor is expected to begin operating in the mid-to-late 2030s.
* The project will create 10,000 direct jobs and generate enough energy to power six million homes.
* The ownership of the Sizewell C nuclear power plant will be: + Government: 44.9% + Centrica: unknown percentage + EDF: unknown percentage + La Caisse: unknown percentage + Amber Infrastructure: unknown percentage
* The project will be funded with a mixture of equity and debt, including £8.8bn in equity from the government and other investors, and £36.6bn in debt from the National Wealth Fund.
* Interest payments on the debt will be part-funded by a levy on all electricity users of an estimated £1 per month for the decade-long construction phase.
* The UK's first new nuclear power plant under construction since the 1990s is Hinkley Point C, which is expected to cost around £46bn and has experienced pandemic-related delays.
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