The Government has taken a huge leap forward in protecting the country’s future as Grant Shapps launches a landmark package to help Britain secure its energy independence.
The Business and Energy Secretary’s plans centre around the revitalisation of the UK’s nuclear sector – the Government’s £700m stake in the Sizewell C nuclear power station will be at the heart of the plans, with the project set to create 10,000 high-skilled jobs and “reliable, low-carbon power to the equivalent of 6 million homes” for the next 50 years and beyond.
Supplementing Sizewell C, the Government have renewed their commitment to upgrading Britain’s nuclear infrastructure as they continue to work “at pace” to establish Great British Nuclear – the entity tasked with developing a pipeline of nuclear builds.
The Government are driving forward the Energy Bill, the legislation that will form the foundations for Britain long-term plan, helping the country shield itself from external forces and insulate its energy sovereignty.
This all comes after the new government ambition to reduce energy demand 15% by 2030, which is being backed by the new £1bn ECO+ insulation initiative.
Business and Energy Secretary Grant Shapps said: “Global gas prices are at record highs, caused by Putin’s illegal march on Ukraine. We need more clean, affordable power generated within our borders – British energy for British homes.
“Today’s historic deal giving government backing to Sizewell C’s development is crucial to this, moving us towards greater energy independence and away from the risks that a reliance on volatile global energy markets for our supply comes with.
“This is at the heart of a package of measures that – together with the new Great British Nuclear and powers of the Energy Security Bill – will ensure secure supply for now, and for generations to come.”
Chancellor of the Exchequer Jeremy Hunt added: “Today’s investment in Sizewell C represents the biggest step on our journey to energy independence – the first state backing for a nuclear project in over 30 years. Once complete, this mega project will power millions of homes with clean, affordable, home-grown energy for decades to come.
“Together with our drive to improve the nation’s energy efficiency, this package will help to permanently bring down energy bills and stop Britain being at the mercy of global gas prices beyond our control.”