The government has announced a £14.2 billion investment to build Sizewell C – which will create 10,000 jobs and 1,500 apprenticeships during its construction.
The announcement comes as part of the government’s spending review, with the Energy Secretary vowing a ‘golden age’ of nuclear power to boost the UK’s energy security.
Sizewell C has already signed £300 million in contracts with local companies and is set to boost supply chains across the UK, with 70% of contracts expected to go to 3,500 British suppliers.
The power station, on the Suffolk coast, will supply around six million homes with clean energy.
Chancellor of the Exchequer, Rachel Reeves, said: “Today we are once again investing in Britain’s renewal, with the biggest nuclear building programme in a generation.
“This landmark decision is our Plan for Change in action.
“We are creating thousands of jobs, kickstarting economic growth and putting more money in people’s pockets.”
Energy Secretary, Ed Miliband, added: “We will not accept the status quo of failing to invest in the future and energy insecurity for our country.
“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.
“This is the government’s clean energy mission in action – investing in lower bills and good jobs for energy security.”
Despite a strong legacy in nuclear power, the UK has not opened a new nuclear plant since 1995.
Sizewell C was one of eight sites identified in 2009 as a potential build site, although the project was not fully funded in the following 14 years.
Julia Pyke and Nigel Cann, Joint-Managing Directors of Sizewell C said: “Today marks the start of an exciting new chapter for Sizewell C, the UK’s first British-owned nuclear power plant in over 30 years.
“It’s a privilege to be leading a project that will create over 10,000 jobs, secure Britain’s energy future and revitalise the UK’s nuclear industry.
“We aim to showcase British infrastructure at its best – delivering a cleaner, more secure energy future for generations to come.”
A spokesperson for Suffolk Chamber of Commerce said: “Today’s announcement of further government funding for Sizewell C is another vote of confidence in this catalytic energy scheme.
“It reinforces Suffolk and, more generally, the East of England as the country’s clean energy super hub.”
For more information on Sizewell C, see here.