The Business and Energy Secretary outlines additional measures to ensure the energy independence of the UK. Today, Grant Shapps, unveils an effective investment plan to help guarantee Britain’s energy independence.

The government is advancing plans to ensure Britain’s energy future by producing cheaper, cleaner energy from British sources. This incorporates continuing the revitalization of the UK nuclear industry by approving the first state backing of nuclear activity in over 30 years. The UK’s most significant step towards energy independence.

The government’s historic £700 million investment in Sizewell C is positioned at the center of the new vision for Britain’s energy sovereignty. 

This is anticipated to generate 10,000 highly skilled jobs and provide reliable, low-carbon electricity for over fifty years to the equivalent of six million homes.

The government remains committed to developing a pipeline of new nuclear activities beyond Sizewell C. To facilitate this, the UK is working swiftly to establish Great British Nuclear. The organization is entrusted with building a robust pipeline of new nuclear plants. An announcement is likely early in the new year.

This long-term plan will be powered by the Energy Bill. Which is currently being pushed through Parliament as part of today’s once-in-a-generation initiative to implement safeguards against global pressures. It comes as the UK establishes a new goal to reduce energy use by 15% by 2030. This is supported by a new £1 billion Great British Insulation scheme and a significant expansion of the government’s public awareness campaign. 

All of which will assist households in reducing energy waste, resulting in warmer homes and buildings and lower energy costs.

Minister of Business and Energy Grant Shapps stated: “Due to Putin’s unlawful invasion of Ukraine, global gas prices have reached all-time highs. We must generate more inexpensive, environmentally friendly energy within our borders energy for British homes.”

“The significance of today’s historic agreement giving government support to Sizewell C’s development cannot be overstated. As it moves us toward greater energy independence and away from the hazards associated with relying on volatile global energy markets for our supplies.”

This is at the heart of a bundle of policies that, along with the new Great British Nuclear and Energy Security Bill’s provisions, will ensure supply security for the foreseeable future.

Jeremy Hunt, stated: “Today’s investment in Sizewell C is the most significant step to energy independence . The first governmental support for a nuclear project in over three decades. Once completed, this mega project will provide clean, affordable domestic energy to millions of homes for decades.”

“Together with our efforts to increase the nation’s energy efficiency, this package will assist in permanently reducing energy bills and stop the UK from being at the mercy of uncontrollable global gas prices.”

Simone Rossi, chief executive officer of EDF Energy, stated: “This is a tremendous vote of confidence in Sizewell C. And we are thrilled that the government is collaborating with us to prepare the project for more investment. Sizewell C will build upon the successes of Hinkley Point C, and duplicating its design will provide more excellent schedules and financial certainty.”

“It will give new opportunities for Suffolk’s communities and significantly boost the nuclear industry’s workforce and skill set. New nuclear will shield the UK from uncertain global gas markets and keep residential and commercial energy costs in check.” “Greater energy efficiency would increase Britain’s energy independence and permanently lower family bills. And we applaud the government’s efforts in this regard. We are prepared to increase our installation rates so that more households can enjoy decreased utility expenditures.”

John Pettigrew, National Grid‘s chief executive officer, stated: “We applaud the continued advancement of the Energy Bill. National Grid plays a crucial role at the center of the energy changeover, and we look forward to collaborating with the government to achieve its ambitious net-zero goals.” “Including the delivery of 50 GW of wind power and establishing a separate system operator and planner. Clearly, accelerating the energy transition is the surest path to more affordable bills, more energy resilience, and greater energy independence for the UK.”

The government is taking tremendous initiatives to safeguard the energy independence of the UK.

Expenditure on nuclear energy

The UK was a leader in the nuclear business for many years. But the country’s nuclear industry fell behind when nuclear power was exchanged for natural gas. The government has confirmed today that it will proceed with the Sizewell C nuclear plant in Suffolk.  This is projected to deliver consistent, low-carbon power for over 50 years to the equivalent of 6 million homes. While creating up to 10,000 highly trained jobs across the UK.

The government will become a 50% shareholder in the project’s development alongside EDF and collaborate with the project’s firm to secure capital investment. Since Sizewell B, the closing nuclear power station to be built in the UK was accepted for construction in 1987. This is the first government investment in a new nuclear power project.

In addition to one large-scale project, a pipeline of new nuclear power plants is required for Britain to achieve energy independence. 

Today, the government reaffirms its intention to establish Great British Nuclear, that will provide a robust pipeline of new plants beyond Sizewell C. With the assistance of the sector and our professional adviser, Simon Bowen, this vehicle will aid in all phases of the development process. Ensuring that these initiatives provide a clear return on investment for taxpayers and customers. 

The UK government can reveal today that it will provide funds to Great British Nuclear to enable the delivery of clean, safe power over the coming decades. Shielding future generations from the high cost of global fossil fuel markets; an official announcement is planned in the new year. Legislation to incentivize investment and safeguard our energy future. The Energy Bill, which will power the long-term plan, is on track and will be advanced in Parliament. 

This bill would encourage private investment

The bill places a heavy emphasis on facilitating the deployment of homegrown, low-carbon technologies. In which the US already has a global lead. In addition to fostering competition in the energy sector, it will aid in the creation of green jobs and lower utility costs.

These are significant steps toward making the UK an independent and self-sufficient energy producer. Ensuring that customers across the country will enjoy the benefits of warmer, energy-efficient homes and buildings powered by homegrown, clean energy.

Enhance energy effectiveness towards energy independence.

Warmer houses and buildings are essential to lowering utility costs and will create jobs. With a new goal to cut the UK’s final energy expenditure from buildings and industry by 15% by 2030. And the new Great British Insulation scheme, the government is dedicated to encouraging improvements in energy efficiency. The government has increased its public awareness campaign to assist households in reducing their energy bills. And safeguarding vulnerable individuals during the winter and beyond. 

This initiative, backed by £18 million, will supplement existing government support programs. It will use public messaging to increase consumers’ ability to reduce household energy consumption and bills. By composing their homes more energy efficient for the upcoming winter. 

Equipping vulnerable groups with the correct information for reducing energy consumption without compromising their health.

Complementing existing government assistance programs such as the Energy Price Guarantee, the government’s extended energy demand campaign will focus on critical initiatives such as:

  • Reducing boiler flower temperature (this saves homes around £100 each year).
  • Turning down radiators when not in use can save homes roughly £70 annually.
  • Taking measures to decrease heat loss at home, such as draught-proofing windows (which saves households roughly £60 per year), is one way to save money.

The UK government has confirmed its historic decision to support the building of Sizewell C, which will generate reliable, clean power for six million UK homes. And create thousands of high-paying jobs in Suffolk and across the country. The Business Secretary’s pledge to advance the Energy Bill, comes alongside a government campaign to assist households in reducing their energy consumption and bills.