Politics · United Kingdom · 3 hrs ago
MPs warn Sizewell C could leave taxpayers and energy users with higher costs
MPs on a UK parliamentary committee warned that Sizewell C could become a costly deal for the public.
The planned nuclear power station is at Sizewell in Suffolk and is intended to follow the delayed Hinkley Point C project in Somerset.
The government expects construction to cost between £40.5bn and £47.7bn and finish between 2039 and 2043.
Under the funding deal, the government holds a 44.9% stake, and public money and energy bills could cover extra costs.
The committee says households face much more risk than private investors if construction costs rise.
The government says investors have reasons to keep construction costs down and that the plant could save £2bn a year across the energy system once it is running.
Ministers must provide cost analysis within three months and project updates every six months, as the committee has requested.
MPs have warned that the Sizewell C nuclear plant could leave taxpayers and energy users facing higher costs and significant financial risks.
The Public Accounts Committee says the project could cost almost £48bn, with bill payers potentially covering an extra £9.8bn before 2040 and £12bn over its 60-year operating life.
The UK government holds a 44.9% stake in the project, whose funding will come through taxes and energy bills as well as private investment.
The government says investors have incentives to complete construction efficiently and that Sizewell C could save £2bn a year across the energy system once operational.
The government expects construction to finish between 2039 and 2043.
- Who
- MPs on the Public Accounts Committee warned about the financial risks. The UK government and private investors are funding the project.
- What
- MPs say Sizewell C could leave taxpayers and energy users with higher costs.
- When
- The report was published on 28 October 2026.
- Where
- The plant is planned for the Sizewell site in Suffolk, England.
- Why
- The committee says taxpayers and consumers face a high level of risk from possible cost overruns and higher energy bills.
Public Accounts Committee
UK government
Cost risk
Public Accounts Committee
The project could cost almost £48bn, with taxpayers and consumers facing significant risks and higher bills.
UK government
Investors are incentivised to complete construction as cheaply and quickly as possible.
Consumer impact
Public Accounts Committee
Customers may be saddled with higher energy bills.
UK government
Once operational, Sizewell C could save £2bn a year across the energy system and cut costs for families.
The Public Accounts Committee warned that Sizewell C could expose taxpayers and energy users to significant costs and risks.
The committee called on the government to provide the scenario analysis behind its cost estimates.
The committee asked ministers to provide updates on the project’s development.
- Estimated project cost
- £40.5bn to £47.7bn
- Potential extra construction costs for bill payers
- £9.8bn before 2040
- Potential costs over operating life
- £12bn over 60 years
- UK government stake
- 44.9%
- Expected construction completion
- 2039 to 2043
2 sources
What people are saying
The high level of risk borne by taxpayers and consumers for the construction of Sizewell C is extraordinary. Private investors look set for significant returns on their investments, while customers are likely to be saddled with higher energy bills.
Once operational, Sizewell C could save £2bn a year across the energy system, cutting costs for families up and down the country, and the project is already making good progress with over 2,000 workers on site
All it offers is a free ride for investors and financial pain for households