UK willing to fund Sizewell C nuclear plant
Sizewell C, a new nuclear plant will be financed by the UK government as a part of its Net Zero campaign, aiming to reduce carbon dioxide emissions.
The British government will soon unveil a long-awaited project targeted at cutting carbon emissions to zero by 2050. The goals of this project are the abandonment of polluting vehicles and the introduction of green heating at homes.
Besides, Sizewell C from EDF Energy will account for the largest part of government funding. This power plant is designed to provide around 6 million residential and public buildings with low-carbon energy over the next 60 years.
Nuclear power is extremely important for Britain today as the country is seeking to build a strong energy sector. The UK government intends to dramatically reduce its dependence on fossil fuels to avoid future fluctuations in global gas prices.
The final decision on financing the Sizewell C nuclear plant will be made before the term of the current government ends, i.e. before the parliamentary elections scheduled to be held in 2024.