The economic impact of Sizewell C

Oxford Economics’ recent analysis for Sizewell C demonstrates the substantial economic boost that the Nationally Significant Infrastructure Project will make to the UK economy.

The development of a new 3.2 gigawatt (GW) nuclear power station, due to be operational in the mid-to-late 2030s, will power six million or one-in-five UK households. Our analysis shows that constructing the plant will cumulatively generate an estimated £26.6 billion of GVA across the UK economy, supporting 256,000 job years of employment. While the economic benefits will be concentrated in Suffolk, where the site is located, all UK regions will benefit: a third of GVA and over two-fifths of employment will be sustained outside of the East of England.

The benefits of the project will continue through the operational phase: the nuclear power station will generate approximately £2 billion of GVA each year and facilitate 3,360 job years of employment across the UK, including 1,170 job years in Suffolk—representing a substantial boost to the economic outlook for the Suffolk economy.

The project will contribute to enabling the UK’s net zero ambitions. The provision of low carbon energy will provide a baseload to augment the growth of renewables, while contributing to energy security by leaving the UK less exposed to global gas price volatility, and reinforcing the economic benefits of the UK’s civil nuclear sector.