UK Government Introduces financing bill for new nuclear

The UK government has today announced a bill calling for the use of the RAB model to fund future nuclear power plants to cut costs for consumers.

By sizewell C media team/October 26, 2021/SZC News

In response to the statement, a spokesperson for Sizewell C said:

“This legislation is a big step forward and will allow us to fund Sizewell C so that it delivers reliable low carbon nuclear power at a lower cost to consumers. With the appropriate consents in place, Sizewell C will be ready to begin construction in this Parliament. It is a once-in-a-generation opportunity to create thousands of jobs and training opportunities in East Suffolk. Building on the success of Hinkley Point C, it will also deliver another big boost to thousands of supply chain companies up and down the country. 70% of the construction value will go to British companies and the legislation means Sizewell C could be majority owned by British investors. Sizewell C will provide home-grown low carbon electricity to 6 million households and will help to reduce our reliance on energy imports. It will play a key role in helping the UK achieve net zero.”