5G Investment News
  • Top News
  • Economy
  • Forex
  • Investing
  • Stock
  • Editor’s Pick
No Result
View All Result
5G Investment News
  • Top News
  • Economy
  • Forex
  • Investing
  • Stock
  • Editor’s Pick
No Result
View All Result
5G Investment News
No Result
View All Result
Home Investing

Sizewell C secures £14.2bn state boost – but energy savings won’t come for a decade

by
June 11, 2025
in Investing
0
Sizewell C secures £14.2bn state boost – but energy savings won’t come for a decade

Prime Minister Sir Keir Starmer described the development as a crucial move towards energy independence and a way to shield Britain from future global energy shocks, declaring: “We’re not writing a blank cheque, but this investment gives us control over our energy and protection from volatile international markets.”

The announcement comes as part of the government’s wider plan to attract investment, stimulate growth, and position the UK at the forefront of clean energy. The funding is expected to help attract further private investment and reignite progress on a project that has been under discussion for more than a decade.

Yet the Sizewell C project — backed by the state-owned French firm EDF — continues to attract fierce criticism over its cost, timeline, and environmental footprint.

While the government insists that the project will “bring down bills for millions,” Energy Secretary Ed Miliband confirmed that the plant is not expected to begin generating power until the mid-2030s. That means households won’t feel the financial benefit of the scheme for at least another ten years.

The £14.2 billion announced this week — which includes £2.7 billion from the Autumn Budget — will cover just five years of the project’s development. Total costs remain uncertain, with estimates ranging from £20 billion to as high as £40 billion, raising concerns over financial transparency and investor confidence.

Jobs, energy security, and net zero

Sizewell C is expected to create 10,000 jobs during construction and 900 permanent roles once operational. The plant would eventually generate electricity for around six million homes and run for up to 60 years.

Trade unions welcomed the announcement. GMB general secretary Warren Kenny said the project would deliver “thousands of good, skilled, unionised jobs”, while Prospect’s Mike Clancy called it “essential” for hitting net zero targets, offering a clean, stable energy supply to complement intermittent renewables like wind and solar.

Starmer emphasised the national security implications too, suggesting that UK energy sovereignty was key to resisting international threats: “No more boots on our throat from authoritarian regimes like Putin’s,” he said.

Local voices divided

Reactions among local residents remain mixed. Some, like trainee paramedic Chris Matthews from Leiston, praised the investment as a boost to the town’s economy: “We’ve lived with Sizewell A and B. This will bring jobs and prosperity, and we need energy independence.”

Others, however, are devastated by the environmental impact of the project. Jenny Kirtley, chair of Together Against Sizewell C, said: “The whole area is changing before our very eyes. I’ve been in tears many times watching what’s happening.”

Farmer David Grant, whose land will be split by a new access road, labelled the funding “outrageous”, citing EDF’s poor track record with delays and budget overruns at Hinkley Point.

The project has already seen years of shifting figures and staggered announcements. With private investment still not fully secured, critics say the government is committing public funds prematurely. Alison Downes from campaign group Stop Sizewell C said ministers hadn’t “come clean” on the true cost, and that taxpayers remain exposed to potential overruns.

EDF dismissed a £40 billion cost estimate as inaccurate, but its Somerset sister site Hinkley Point C — also developed by EDF — is already more than a decade late and billions over budget.

A final decision on the Sizewell C funding model is expected later this summer.

Even as construction progresses — with site clearance and access infrastructure already under way — questions remain about the long-term affordability, environmental footprint, and feasibility of the project.

The Department for Energy Security said Sizewell C is part of the government’s plan to “deliver the biggest boost to social and affordable housing in a generation alongside supporting first-time buyers” — a somewhat confusing conflation that underscores the pressure on Labour to deliver quick wins amid challenging fiscal constraints.

Despite the complexity, the government remains bullish on the role of nuclear in a greener future. Alongside the Sizewell announcement, Rolls-Royce also secured a £2.5bn contract to deliver three state-of-the-art nuclear reactors — part of a broader national pivot toward new nuclear capacity.

But for millions of British households grappling with high bills today, the promise of cheaper energy remains distant. For now, Sizewell C remains a bet on the future — one that ministers hope will eventually pay off.

Previous Post

Tariff tensions force Spain’s food giants to seek markets beyond the US

Next Post

Michelle Mone-linked PPE firm faces £122m high court battle with government

Next Post
Michelle Mone-linked PPE firm faces £122m high court battle with government

Michelle Mone-linked PPE firm faces £122m high court battle with government

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.







    Fill Out & Get More Relevant News





    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.
    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    Recommended

    Start-up in bid to prove UK leads in space tech with launch of metal-fuelled engine

    June 20, 2025

    Buy here now: Oasis to open merch stores ahead of reunion gigs

    June 20, 2025
    GB News is now the UK’s fourth biggest news brand, Reuters report reveals

    GB News is now the UK’s fourth biggest news brand, Reuters report reveals

    June 20, 2025
    Wine shortage fears after bottling workers go on strike at key UK facility

    Wine shortage fears after bottling workers go on strike at key UK facility

    June 20, 2025

    Disclaimer: 5GInvestmentNews.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
    The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2024 5GInvestmentNews. All Rights Reserved.

    No Result
    View All Result
    • Home
    • Privacy Policy
    • suspicious engagement
    • Terms & Conditions
    • Thank you

    © 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.