20 Oct GMB WELCOMES GOVERNMENT FUNDING COMMITMENT TO SIZEWELL C
Regulated Asset Base model will help get spades in the ground and allow Government to take a stake, says GMB Union
GMB, the energy union, has welcomed a Government commitment to a funding model for the Sizewell C nuclear power station.
Legislation has been announced for the Regulated Asset Base (RAB) funding model for Sizewell C – a vital first step in ensuring the project can be delivered.
The announcement also starts the process by which the Government can take a stake in the project, ensuring its success.
Charlotte Childs, GMB National Officer, said:
‘’This is an important first step in getting a positive final investment decision at Sizewell C.
“Time is of the essence and the nuclear supply chain as well as those working to construct Hinkley Point C will welcome this legislation.
“Of course, the devil will be in the detail in terms of how this will shape Sizewell C investment, but this is a significant and important positive step.
“GMB has long argued there can be no net zero without new nuclear.
“This, alongside investment in Small Modular Reactors and Wlyfa, are all steps in the right direction.’’