Sizewell C - Money

The government has announced that a further £2.7bn of taxpayer cash has made available for Sizewell C, bringing the total to £6.4bn ahead of the final investment decision (FID) on the nuclear power station. A FID is needed before main construction can start on the planned nuclear power station in Suffolk. The FID will confirm who is to pay for the construction and through what model. As of January, £2.5bn of contracts had already been agreed for works towards the project. It is expected that the FID decision, which is not a foregone conclusion, will come at or around the conclusion of the Spending Review, scheduled for 11 June 2025. Rumours have swirled around which investors might help with getting the FID over the line. Centrica chief executive Chris O’Shea said the multinational energy company’s stake in Sizewell C could be “between 1% or 2% and 50%”, and EDF has been slowly having its stake in the plant eroded by taxpayer cash injections while it inputs no further of its own funds. NCE approached DESNZ to clarify the status of the previously announced £5.5bn development expenditure (Devex) scheme, and what the total figure for public investment in Sizewell C stands at. A DESNZ spokesperson confirmed that the £2.7bn announced on 4 April is not from the Devex fund. “The government has committed £3.9bn from the Devex scheme – so £1.6bn is left,” the spokesperson told NCE. “£8bn has been ringfenced for Sizewell C, and £6.4bn made available for the project.”