Sizewell C must be the most-announced nuclear power station in history. It feels as if every energy secretary in the last half-decade, facing up to the reality that most of the existing nuclear fleet will be going offline by the early 2030s, has endorsed the Suffolk plant and hailed it as marking the dawn of a new era for the industry. “A golden age for clean energy abundance,” was Ed Miliband’s version on Tuesday.
The difference this time is that serious government money is being put on the table, making it possible to have confidence that Sizewell C will actually happen. A final investment decision won’t come until later in the summer, but a £14bn government commitment at this stage, taking the tally to almost £18bn, is not small change. The state’s balance sheet is being put to work; the game now is about rounding up private-sector investors to play a supporting financing role.
