The UK pledged 11.5 billion pounds from the new government fund

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The United Kingdom has finished years of uncertainty about the future of its nuclear industry by pledging to finance the new country with a value of 11.5 billion pounds for the Sizeweell C project in Suffolk, as it took the total taxpayer investment at the site to 17.8 billion pounds.

Chancellor Rachel Reeves will announce the general investment in the record Nuclear energy On Tuesday, I told the attendees at the GMB conference that it ends “years of delay” on Sizewell, which will support the creation of 10,000 jobs.

Although Reeves had to make difficult decisions in reviewing the government’s spending on the budgets of daily departments, they managed to find the additional billions of Sizeweell C by changing its financial rules. This made 113 billion pounds is available for additional capital spending Via the government, with funding from borrowing.

This step represents a return to great funding for the state for nuclear energy after the UK chose the private sector to finance and build its latest project, Hinkley Point C in Sumrest, which was greatly late and above budget. The previous general investment in nuclear energy was 2 billion pounds for the Sizewell B factory in 1987, or 7 billion pounds in today’s prices.

the UK government It already has a partnership with the EDF group of the state -owned French state, which has maintained a 15 -percent stake in Sizewell C. The couple now seeks to obtain financial obligations from many other investors before they can register out of the “final investment decision”, It is expected next month During the Anglo Franch summit in London.

The consultant for 14.2 billion pounds will be the taxpayer financing for a 3.2 GB factory on the current parliament, including a commitment of 2.7 billion pounds before in Autumn budget. The Treasury has already committed 3.6 billion pounds over the past two years.

EDF said that the final investment decision depends on securing private investment and whether it can achieve its expected return on capital, but Simon Rossi, the company’s CEO of the United Kingdom, said that the project will benefit “energy security and economic growth” in the United Kingdom.

Special investors include expected to provide risks at SIZEWELL C Canadian pension box CDPQ, Aber Infrastructure Partners, Brookfield Asset Management, USS Fund Fund, Schrooders Greencoat, Equitix, and Centrica, Centrica Rothesay. The total cost of the project can be close to 40 billion pounds by the time it was built, as industry numbers believed.

The ministers are encouraged to develop the new UK nuclear power plants to provide future electricity supplies for the balance of solar energy and wind energy.

However, no new nuclear factory has been opened in the United Kingdom since 1995, and most of the current old age fleet – regardless of Sizewell B – has been appointed in the early 1930s.

The British -owned nuclear Great will soon announce the results of its rival to choose a company to start building a fleet of “small standard reactors”.

The government said it would also invest more than 2.5 billion pounds in nuclear fusion over five years, while it was called “standard investment” in emerging technology. Melanie Windridge, President of the Consulting Consultant Insights Group, praised the government to recognize “the economic value of developing fusion in this country.” The amount is just less than the United States spends on fusion and a third of the annual investment of China on technology.

Additional reports by Tom Wilson