Sizewell C
Posted: 16th June 2025
Sizewell C nuclear project to get go-ahead during Anglo-French summit. UK ministers hope to sign up private sector investors for new Suffolk power plant later this month. The new Sizewell C nuclear power station is expected to get the final go-ahead during an Anglo-French summit in London next month, as UK ministers edge towards securing billions of investment from the private sector. Darren Jones, a Treasury minister, told the Financial Times earlier this year that the final investment decision for Sizewell C, where shareholders formally commit to the investment, would be “at the spending review” on June 11. Ministers are expected to reaffirm the government’s intention to invest in Sizewell in or around the spending review, according to people close to the situation, with details expected on how much they could allocate in taxpayer support for the project. However, the final go-ahead is not expected until an announcement by Prime Minister Sir Keir Starmer and French President Emmanuel Macron during the Franco-British summit in London between July 8 and July 10, according to people close to the talks in Britain and France. By then the government and EDF will have received final bids from several private investors who have been given a deadline of late June, allowing the formal final investment decision to proceed. Groups expected to bid for a stake in Sizewell include insurer Rothesay, backed by the Singaporean infrastructure fund GIC, the Canadian pension fund CDPQ, Amber Infrastructure Partners, Brookfield Asset Management, pension fund USS, Schroders Greencoat and Equitix, people close to the talks have said. Centrica, the owner of British Gas, has also confirmed that it is in talks to invest in the project.
FT 3rd June 2025
https://www.ft.com/content/25927b63-6ce5-4964-b8df-086c010148f8
The Sizewell C Development Expenditure Subsidy Scheme (DEVEX Scheme) has been made for £5.5bn for the Sizewell C company. Under this scheme to date, £3.9bn has been awarded to the company, in two tranches, one of £1.2bn and one of £2.7bn. Prior to these awards, the Department had awarded £2.5bn to the project since the Government Investment Decision in November 2022 under the SZC Investment Funding Scheme. Hence, in total, the Department has to date allocated £6.4bn to the project under both subsidy scheme.
Hansard 2nd June 2025
https://questions-statements.parliament.uk/written-questions/detail/2025-05-21/54121
The Nuclear Free Local Authorities have supported the latest campaign launched by Stop Sizewell C by writing to the new nuclear minister asking her to seek more time to consider the ramifications of rubberstamping the Suffolk nuclear power project. On 23 May, Lord Philip Hunt, the former Nuclear Minister of State retired from the Department of Energy Security and Net Zero and was replaced by Baroness Margaret Curran. It is strange time to see a ministerial change as it occurs on the eve of the Spending Review when the government is expected to make a Financial Investment Decision (FID) about proceeding with Sizewell C. Stop Sizewell is asking its supporters to write to Minister Curran to insist she requests more time to get to grips with her role and properly examine the implications of the huge, costly and environmentally impactful Sizewell C project before making a final decision on the FID.
NFLA 2nd June 2025