Government pledges £1.7bn of public money to new nuclear plant
The government will make its first direct investment in a large-scale nuclear reactor since 1995 after pledging to plough up to £1.7bn of taxpayers’ money into a new power plant.
Treasury documents published alongside the autumn statement did not name which nuclear project would be in line for the public funds, but the Guardian understands it is most likely to be the planned £20bn Sizewell C plant in Suffolk.
Government officials are locked in talks with Sizewell C’s developer, the French state-backed energy company EDF, about how to finance its successor to the Hinkley Point C plant in Somerset.
The first investment would be enough to hand the UK government an 8.5% stake in Sizewell C, and potentially oust China General Nuclear (CGN) from the
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