UK Approves £38B Sizewell C Nuclear Plant Deal

The UK government has given final approval for the £38 billion Sizewell C nuclear power plant in Suffolk after years of delays and rising costs. The government will be the largest shareholder with a 44.9% stake, joined by EDF, Canadian fund La Caisse, Centrica, and Amber Infrastructure. UK households will contribute around £1 per month to construction costs, with potential further levies to guarantee investor returns, while taxpayers will bear the risk of cost overruns above £47 billion. The plant is expected to provide electricity for six million homes and create 10,000 jobs, supporting the UK's energy security and net zero goals. The initiative aims to reduce dependence on imported energy and offer greater long-term price stability, though some critics warn of higher consumer and public financial exposure. Sizewell C is the second new nuclear project in Britain in over two decades, following Hinkley Point C.