"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
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.
Read MoreGreen taxonomy and ESG criteria
We believe nuclear scores highly when it comes to ESG considerations and Sizewell C is delighted that nuclear will be included in the Government’s forthcoming taxonomy on green investments. Our ESG credentials:
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.
