Sizewell C £14.2bn investment set to reenergise jobs, skills and the economy

Lauded as ‘the biggest nuclear building programme in a generation’, chancellor Rachel Reeves announced the government would commit £14.2 billion to build the Sizewell C nuclear plant as part of its spending review.

Ten thousand jobs are set to be created during its construction as part of the government’s investment, including 1,500 apprenticeships, as well as thousands more jobs across the UK.

Julia Pyke and Nigel Cann, joint-managing directors of Sizewell C said the announcement marked the start of an exciting new chapter.

“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.”

While the latest cash injection puts an end to years of delay and uncertainty, the final investment decision (FID) is yet to be announced. This is despite the Autumn Budget 2024 stating it would come in the spending review.

The government, as the majority stakeholder in the project, alongside French state-owned energy company, EDF which has a 15 per cent stake, have been looking at further potential investment. It is now believed the FID will be announced at the Anglo-French summit in July.

It will be the first nuclear plant to be opened in the UK since 1995, with all of the existing plants, with the exception of Sizewell B, likely to be phased out by the early 2030s.

Contracts worth £330 million have already been signed with local companies, with 70 per cent of contracts predicted to go to 3,500 British suppliers – ‘supporting new jobs in construction, welding, and hospitality’.

Costain has already been awarded a multi-million-pound framework over 10 years, to support the nuclear power station’s constuction. 

Sam White, its managing director, natural resources said the firm looked forward to playing its part and working with the project’s supply chain partners.

“This nationally significant infrastructure project will provide a safe and resilient energy supply for millions of homes, creating a sustainable future for the UK.

“At the same time, this is a project that will accelerate the development of highly sought-after engineering skills for thousands of long-term jobs, driving economic prosperity for the East of England.”

Brusk Korkmaz, CEO at labour supply company, Hercules, added: “We can often feel overshadowed by the scale of infrastructure works in other parts of the world. However, delivering Sizewell C will be a huge project and, hopefully, one in a string that will level up our infrastructure and energy capabilities.”

Last year the Construction Industry Training Board confirmed that the UK would need 250,000 new workers by 2028. 

Korkmaz said more needed to be done to ensure the country was ready to build.

“To be ready for delivery of Sizewell C, schemes that give workers the chance to upskill and cross-skill, and which create new opportunities for communities around the project, will be essential for delivery.

“These will also play a key role in ensuring that construction remains a cornerstone of the UK economy.”

The announcement comes as the government is set to confirm one of Europe’s first Small modular reactor programmes.

This comes alongside record investment in research and development for fusion energy, worth over £2.5 billion over five years. Together with Sizewell C, the projects are said to be part of the biggest nuclear building programme in a generation.

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