Funding Sizewell C

Lowering costs for consumers

How will Sizewell C be funded?

Sizewell C will be a near replica of Hinkley Point C and this means we can lower construction costs and explore new ways of raising finance.

In March 2022, new legislation came into effect allowing Regulated Asset Base (RAB) financing for nuclear. It’s a breakthrough that will allow us to lower the cost of financing Sizewell C, bringing big savings for consumers.

Click below to read more about the RAB financing scheme.

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Reducing costs through replication

Sizewell C is a near replica of Hinkley Point C which means we’re able to easily take all of the learnings and innovation from that project to build this new power station at a lower cost.

Throughout the construction process, the team at Hinkley Point C has also been able to implement big improvements on the plans as work continues. Those same improvements have been incorporated into Sizewell C to ensure the end product is even better.

EDF Energy will provide design, technical and engineering support throughout construction and operation. All of these elements combined mean that Sizewell C can be delivered with a high degree of cost certainty and substantial reduction in delivery risk.

"To encourage the private sector investment into our nuclear programme, I today confirm that subject to consultation, nuclear power will be classed as, “environmentally sustainable” in our green taxonomy, giving it access to the same investment incentives as renewable energy." The Rt Hon. Jeremy Hunt MP, Chancellor of the Exchequer, March 2023
"Here’s the one-sentence case for nuclear power: It’s the only carbon-free energy source that can reliably deliver power day and night, through every season, almost anywhere on earth, that has been proven to work on a large scale." Bill Gates, Co-founder of Microsoft Corp., Feb 2021

The UK needs Sizewell C

The UK has made a binding commitment to reach net-zero carbon emissions by 2050. That means our electricity system won’t be able to rely on polluting fossil fuels as it does today. The move to cleaner sources of power means that by 2050, we will need around four times the amount of low-carbon electricity we use today.

While the growing demand for low-carbon electricity will mostly be met by renewables like wind and solar, nuclear electricity will also be a vital component of our future energy mix. Nuclear doesn’t rely on the weather and is the only proven technology that can deliver clean “baseload” power at scale.

Sizewell C will help Britain move away from imported fossil fuels and deliver reliable low-carbon electricity to 6 million homes for at least 60 years.

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