£700mn funding is one more step towards approving Sizewell C but falls short of what we need

The current Prime Minister, in his last major speech before leaving office, has confirmed £700m of funding for Sizewell C.

It had been expected that this would be the full Government Investment Decision, which would be the catalyst for releasing private investment, but falls short of that.

Sue Ferns, Senior Deputy General Secretary of Prospect, said:  

“This is one more step on the way to approving a project vital to achieving our net zero goals and future energy security. But it falls short of the full Government Investment Decision we were hoping for which is required to secure the rest of the necessary funding from investors.

“If this painfully slow progress is replicated across all the nuclear projects promised in the British Energy Security Strategy, then we have no chance of achieving its ambitious aims.

“The incoming Prime Minister must prioritise achieving resolution, making absolutely clear Britain’s commitment to new nuclear and to this critical project.”

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