Sizewell B Nuclear Plant to Run Until 2055 Under New Government Contract

Sizewell B nuclear power station will continue generating electricity until 2055 after receiving a 20-year extension. GB News reported that the Suffolk facility, Britain's only pressurised water reactor, powers 2.5 million homes and supplies about three per cent of national electricity needs. The plant opened in 1995 and had been scheduled to close in 2035.

A contract for difference struck with the government, owner EDF and Centrica, which holds a 20 per cent stake, sets the price of electricity from the station at £70.50 per megawatt hour. That rate is below the £91 average recorded for offshore wind in the most recent allocation round. Under the previous arrangement the station received the wholesale market price.

Officials said the new contract would have saved consumers around £2 billion during the price spike that followed Russia's invasion of Ukraine. The government stated the deal will reduce system costs and shield billpayers from fossil fuel volatility while preserving 900 skilled jobs in Suffolk.

Energy Secretary Ed Miliband said nuclear power is vital for energy security and that the extension will help produce the clean power the country needs.

Chancellor Rachel Reeves said the agreement secures clean, homegrown power for millions of homes until 2055 and gives long-term certainty to businesses and workers. The government is also supporting Britain's first small modular reactors in Anglesey and the construction of Sizewell C next to the existing station.

Work continues on Hinkley Point in Somerset, the first new nuclear plant in a generation, which is due to open in 2030 and will power six million homes at a cost of around £130 per megawatt hour in today's terms.