Progress of the Sizewell C Project

Over the last few months significant progress has been made on the Sizewell C project.

The Government’s decision that Britain should aim to be net zero by 2050 has strengthened the case for nuclear and renewables.  Energy from existing and new nuclear power stations is an essential source of low carbon electricity, alongside renewables. In that context, you may be interested to note the project’s progress:

• The Government has consulted on the framework for investment (the so-called RAB model). Suffolk Chamber of Commerce, like many others who support nuclear and its role in fighting climate change, have responded to the consultation. The Government is expected to give its conclusions in the coming months.

• EDF Energy has completed a fourth and final stage of public consultation with local communities and statutory stakeholders. They are on track to submit the application for a Development Consent Order (DCO) for Sizewell C next year.

• EDF Energy are making good progress on the engineering and with the supply chain.

• EDF Energy have also been in discussions with pension funds and other potential funders. It is clear that with the right framework in place, investors have an appetite to be involved in Sizewell C.

A key question for investors is whether nuclear power passes the tests to be an ethical and socially positive investment. This is essential for them to invest in new nuclear. The European Commission is currently considering whether to classify nuclear as a sustainable investment. A positive outcome will reassure investors they are putting their money in the right place.

EDF are making the technical case and engaging with officials and politicians in order to help the Commission come to the right decision.

Tom McGarry,

Head of Stakeholder Engagement, Sizewell C,

Nuclear Development