The investment is set to create 10,000 jobs and comes ahead of the full spending review
The Sizewell C investment will be a part of a planned larger investment into nuclear power.
The energy secretary, Ed Miliband, promised a “golden age” of nuclear in a bid to secure the UK’s energy.
New skilled jobs to be created
Among the 10,000 new jobs, 1,500 will be apprenticeships, teaching new skills to fresh workers.
£330m-worth of contracts have already been signed with local companies to establish supply chains, with 70% of these aimed at British suppliers.
Sizewell C is set to power roughly six million homes with “clean, homegrown energy.”
The announcement also precedes an expected announcement of one of Europe’s first Small Modular Reactor (SMR) programmes, hand-in-hand with a record £2.5bn invested into fusion research & development over five years.
Sizewell C will be the first nuclear plant opened in the UK since 1995, and in the early 2030’s, most of the nuclear fleet besides Sizewell B is expected to be phased out.
“Absolutely vital if the UK is to hit net zero”
Chancellor of the exchequer, Rachel Reeves, said: “Today we are once again investing in Britian’s renewal, with the biggest nuclear building programme in a generation. This landmark decision is our Plan for Change in action.
“We are creating thousands of jobs, kickstarting economic growth and putting more money people’s pockets.”
Energy secretary, Ed Miliband said: “We will not accept the status quo of failing to invest in the future and energy insecurity for our country.
“We need new nuclear to deliver a golden age of clean energy abundance, because that is the only way to protect family finances, take back control of our energy, and tackle the climate crisis.
“This is the government’s clean energy mission in action- investing in lower bills and good jobs for energy security.”
Julia Pyke and Nigel Cann, joint-managing directors of Sizewell C said: “Today marks the start of an exciting new chapter for Sizewell C, the UK’s first British-owned nuclear power plant in over 30 years. It’s a privilege to be leading a project that will create over 10,000 jobs, secure Britain’s energy future and revitalise the UK’s nuclear industry.
“We aim to showcase British infrastructure at its best – delivering a cleaner, more secure energy future for generations to come.”
Warren Kenny, GMB regional secretary, said: “Sizewell C is absolutely vital if the UK is to hit net zero.
“Nuclear power is essential for clean, affordable, and reliable energy – without new nuclear there can be no net zero.
“Sizewell C will provide thousands of good, skilled, unionised jobs and we look forward to working closely with the government and Sizewell C to help secure a greener future for this country’s energy sector.”
Engineering Construction Industry Training Board (ECITB) chief executive, Andrew Hockey, said: “Contractors, understandably, are reticent to invest in future talent when there is uncertainty around project statuses and timescales.
“The Government’s commitment to the new nuclear build at Sizewell will give greater certainty to the sector for planning.
“Our own research published earlier this week, highlights that the size of the engineering construction industry (ECI) workforce in the nuclear sector could grow by 29% to more than 46,000 by 2030.
“Steel erectors, electrical technicians and welders – critical skills for new nuclear build – are among the roles most in demand.
“The ECITB is committed to working in partnership with employers, training providers and the CITB to support the Government’s mission to deliver the Sizewell C project.”
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