The Department for Energy Security and Net Zero announced a new subsidy scheme, the Sizewell C Devex Scheme, to support the development of the proposed Sizewell C nuclear power plant up to the point of a Final Investment Decision (FID).
Sizewell C is a proposed 3.2GW nuclear power station planned to be built near the existing Sizewell B plant in Suffolk.
The Devex Scheme will allow the government more flexibility in funding development costs up to and including the FID, subject to value for money assessments and approvals.
The total funding permitted under the scheme is £5.5 billion, with further details to be published on the subsidies database.
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