Sizewell C nuclear power plant costs rise to £38bn

17 minutes ago Share Save Mariam Issimdar BBC News, Suffolk Share Save

Sizewell C The government has said it will invest £14.2bn into the Sizewell C nuclear power plant

The cost of building the Sizewell C nuclear power plant has jumped to £38bn, adding £1 a month to household energy bills for about a decade. The previous official figure for the project was £20bn, but the plant's joint managing director Julia Pyke said earlier estimates did not account for inflation or risk. The government confirmed on Tuesday that it would take a stake in the power plant, and announced that it had secured investment from a number of businesses, including British Gas-owner Centrica. The Sizewell C reactor is expected to begin operating in the mid to late 2030s, said Ms Pyke, after which she said home energy bills will be £2bn lower.

Ms Pyke said the nuclear plant would "cost consumers about a pound a month during the construction phase," adding up to a "small annual charge". The government's stake in the project is 44.9%, while Centrica, EDF, La Caisse and Amber Infrastructure will also have holdings in exchange for funding. Alison Downes, director of pressure group Stop Sizewell C, said: "This much-delayed final investment decision has only crawled over the line thanks to guarantees that the public purse, not private investors, will carry the can for the inevitable cost overruns." Ms Downs added she expected UK households to be hit with a new Sizewell C construction tax on their energy bills. "It is astounding that it is only now, as contracts are being "signed, that the government has confessed that Sizewell C's cost has almost doubled to an eye watering £38 billion - a figure that will only go up," she said. Sizewell C is expected to create 10,000 direct jobs, thousands more in firms supplying the plant and generate enough energy to power six million homes, the Treasury said. Energy Secretary Ed Miliband said: "It is time to do big things and build big projects in this country again and today we announce an investment that will provide clean, homegrown power to millions of homes for generations to come. "This government is making the investment needed to deliver a new golden age of nuclear, so we can end delays and free us from the ravages of the global fossil fuel markets to bring bills down for good."

Martin Giles/BBC Alison Downes of Stop Sizewell C said taxpayers would "carry the can"

The government's National Wealth Fund - its principal investor and policy bank - will be making its first investment in nuclear energy. Ownership of the plant will see La Caisse take a 20% stake, Centrica will have 15% and Amber Infrastructure an initial 7.6%. This comes alongside French energy giant EDF taking a 12.5 % stake in the project, set out earlier this month, as well as a proposed £5bn debt guarantee from France's export credit agency, Bpifrance Assurance Export, to back the company's commercial bank loans. Ms Pyke said: "By investing in Sizewell C, they [the government] are laying the foundations for a more secure, cleaner and more affordable energy system. "Because 70% of our construction spend will be in the UK, with a £4.4bn commitment to the east of England, they will also help to create thousands of great jobs and new opportunities for people and businesses up and down the country."

Jamie Niblock/BBC Large areas of land have already been cleared in preparation for the building of Sizewell C

Despite the UK's strong nuclear legacy, including opening the world's first commercial nuclear power station in the 1950s, no new nuclear plant has opened in the UK since 1995, with all of the existing fleet except Sizewell B likely to be phased out by the early 2030s. Sizewell C was one of eight sites identified in 2009 by then-Energy Secretary Ed Miliband as a potential site for new nuclear. However, the project was not fully funded in the 14 years that followed under subsequent governments.

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Higher UK borrowing adds to pressure on Reeves

7 minutes ago Share Save Nick Edser Business reporter, BBC News Share Save

Getty Images

UK government borrowing rose by more than expected last month, adding to the pressure on the Chancellor, Rachel Reeves. Borrowing - the difference between public spending and tax income - was £20.7bn in June, up £6.6bn from the same month last year, the Office for National Statistics (ONS) said. Higher spending on public services and debt interest payments outstripped revenue from other taxes, including employers' National Insurance contributions which was lifted in April, the ONS said. Analysts say it is increasingly likely that the chancellor will have to raise taxes at the Budget in the autumn, after the government reversed cuts to benefits that had been aimed at saving billions of pounds.

The latest borrowing figure was the second-highest June figure since monthly records began in 1993, the ONS added, behind only June 2020, which was heavily affected by the pandemic. Dennis Tatarkov, senior economist at KPMG UK, said the data "piles more pressure on public finances". "Furthermore, the longer-term outlook for public finances remains difficult. Recent U-turns on welfare and persistent growth headwinds could open a gap against fiscal targets, which could require further tax rises or spending cuts in the Autumn Budget." The ONS said interest payments on government debt rose to £16.4bn in June 2025, which was nearly double the amount paid at the same point last year. The increase is due to a pick-up in the rate of inflation, with interest payments on some government debt linked to the Retail Prices Index measure of inflation. Borrowing in the first three months of the current financial year has now reached £57.8bn. While this is an increase of £7.5bn from the same period in 2024, it is in line with what the Office for Budget Responsibility, the official independent forecaster, had predicted. Despite this, Alex Kerr, UK economist at Capital Economics, warned that "things will probably get worse for the chancellor". "We think that she will need to raise £15-25bn at the Budget later this year, with higher taxes doing most of the heavy lifting." Expectations are increasing that Reeves will have to raise taxes in the autumn in order for the government to fund its spending commitments, and last month she refused to rule out tax increases. The chancellor is following two main rules, which she has argued will bring stability to the UK economy: day-to-day government costs will be paid for by tax income, rather than borrowing to get debt falling as a share of national income by the end of this parliament in 2029-30

Gurney's compatriot Josh Rock hit a 104.32 average and a 167 checkout in a 10-5 win over 14th seed Ross Smith while English sixth seed Chris Dobey will face Price next after defeating Germany's Ricardo Pietreczko by the same scoreline.

Tensions between Gurney and Price appeared to begin when the Northern Irishman appeared to mutter an expletive to himself as the two players prepared to walk off the stage for the second break.

The pair had previously clashed in 2019 when they had to be separated by security after a Premier League match in Sheffield.

Price - who has lost weight as part of a fitness regime - refused to be drawn on the latest bust-up, although did post on Instagram: "Have to be careful these days, I'm down to light-cruiserweight."

He defied a spectacular 150 checkout from Gurney with back-to-back legs of 11 and 14 darts to wrap up his victory.

"I felt like I really struggled up there, but I still played pretty well," said the Welshman, who averaged 100.21 and hit six 180s.

"Getting through the first round is always tough for me, but when I do then I'm dangerous.

"There's a lot more in the tank which is good, and I feel like I've got so much more to give in this tournament."

World Health Organization condemns Israeli attacks on facilities in Gaza

1 hour ago Share Save David Gritten BBC News, Jerusalem Share Save

Anadolu via Getty Images Smoke rises over western Deir al-Balah during an Israeli offensive on Monday

The World Health Organization (WHO) says Israel's ground offensive in central Gaza has compromised its efforts to continue working, after its facilities came under attack. The UN agency accused Israeli forces of attacking a building housing its staff and their families in the city of Deir al-Balah on Monday and mistreating those sheltering there. Its main warehouse was also attacked and destroyed. The Israeli military has not yet commented. Its first major ground operation in Deir al-Balah since the start of the war with Hamas 21 months ago has displaced tens of thousands of Palestinian civilians, amid warnings of a severe hunger crisis across the territory.

The UN said on Monday it was receiving reports of malnourished people arriving at clinics and hospitals in extremely poor health, while the Hamas-run health ministry said 19 people had died from malnutrition since Saturday.

On Sunday, the Israeli military ordered the immediate evacuation of six city blocks in southern Deir al-Balah, warning that it would be operating "with great force to destroy the enemy's capabilities and terrorist infrastructure". The estimated 50,000 to 80,000 people living in the affected areas were instructed to head south towards the al-Mawasi area in the south of the territory. The UN's humanitarian office said UN staff would remain in Deir al-Balah despite the evacuation order, spread across dozens of premises whose co-ordinates had been shared with Israel, and stressed that they had to be protected. On Monday night, the WHO put out a statement saying it condemned "in the strongest terms" attacks on its facilities. It said the WHO staff residence was attacked three times, and that staff and their families, including children, were "exposed to grave danger and traumatized after air strikes caused a fire and significant damage". "Israeli military entered the premises, forcing women and children to evacuate on foot toward al-Mawasi amid active conflict. Male staff and family members were handcuffed, stripped, interrogated on the spot, and screened at gunpoint," it added. "Two WHO staff and two family members were detained. Three were later released, while one staff member remains in detention." The WHO demanded the immediate release of its detained staff member and the protection of its other staff, who have been relocated with their families to its office in Deir al-Balah.

Australia's toxic algae bloom is 'natural disaster' - premier

3 hours ago Share Save Simon Atkinson and Tiffanie Turnbull BBC News, Sydney Share Save

Before and after footage shows impact of the toxic algae bloom

An algal bloom catastrophe which has turned usually pristine South Australian waters toxic green and suffocated masses of marine life is a "natural disaster", the state premier has declared. The algal bloom - a rapid increase in the population of algae in water systems – has been spreading since March and is now twice the size of the country's capital territory. The federal government has unveiled an assistance package of A$14m ($9m; £6.7m) but refused to designate the event a natural disaster - a term usually used for cyclones, floods and bushfires and which would trigger a greater response. Authorities say more than 400 species of marine life have died and local industries are suffering.

Algal bloom is naturally occurring but is caused by ocean warming, marine heatwaves, and nutrient pollution - all a direct result of climate change. "This is a natural disaster and should be acknowledged as such... I think politicians can do themselves a disservice when they get caught up in technicalities," South Australian Premier Peter Malinauskas told the Australian Broadcasting Corporation (ABC) on Tuesday. He announced his government would match the federal government's A$14m in funding, with money to go towards research, clean up, and industry support measures.

EPA Some dead fish have been washed ashore