PM Sunak backs £700 million cash boost for Sizewell C nuclear power facility.

PM Sunak backs £700 million cash boost for Sizewell C nuclear power facility.

The Prime Minister backed the cash boost for Sizewell C in Suffolk – nearly three months after Mr Johnson delivered his last policy speech as PM at the site saying the Government would back the development.

Rishi Sunak gave the green light to a key plank of Boris Johnson ‘s legacy by pumping £679million of taxpayers’ cash into a new nuclear power plant.
The project, which supporters say could create 10,000 jobs, is led by French firm EDF, which is largely state-owned.

There had been speculation that the plan could be delayed or even ditched as a cost-cutting measure after a government official told the BBC “every major project” was under review ahead of the Autumn statement.

Workers’ leaders welcomed the announcement but climate campaigners questioned why ministers weren’t prioritising renewable energy.

“On top of all that, there’s no value-for-money assessment available for Sizewell C so UK taxpayers are essentially buying it sight unseen.”

The Government wants to wean Britain off imported foreign energy Ministers believe the power station will help wean Britain off imported foreign energy.

Gas prices have rocketed and electricity costs surged since Vladimir Putin ordered a Russian invasion of Ukraine on February 24. EDF chief executive Simone Rossi hailed a “big vote of confidence in Sizewell C”, which she said would “build on the achievements of Hinkley Point C” in Somerset – a new nuke plant under construction.

Business Secretary Grant Shapps said: “Global gas prices are at record highs, caused by Putin’s illegal march on Ukraine.”

Chancellor Jeremy Hunt said the funding for Sizewell C – a fraction of the estimated £25billion total cost “represents the biggest step on our journey to energy independence – the first state backing for a nuclear project in over 30 years”.

The above summary was derived from the story linked below

Source: Sizewell C nuclear power plant given go ahead with £700m public cash injection

What’re your thoughts on the article.