We want to ensure Suppliers are aware of the latest update on the commencement of the Nuclear RAB (Regulated Asset Base) scheme.
On 12 December 2024, the Chancellor of the Exchequer reaffirmed commitments from the Autumn Budget 2024 through an official press release. During this announcement, it was confirmed that the timeline for concluding the equity and debt raise process for Sizewell C has been adjusted from spring 2025 to late spring 2025.
The Autumn Budget 2024 highlights: “New nuclear will play an important role in helping the UK achieve energy security and clean power, while securing thousands of good, skilled jobs. This settlement provides £2.7 billion of funding to continue Sizewell C’s development through 2025-26. The equity and debt raise process for this project will shortly move to its final stages and will conclude in late spring. As with other major multi-year commitments, a Final Investment Decision on whether to proceed with the project will be taken at Phase 2 of the Spending Review.”
The full Autumn Budget 2024 summary is available for download here: Autumn Budget 2024: A Summary.
To support Suppliers in preparing for the operational go-live of the Nuclear RAB scheme, including access to key documents and resources, please refer to this news item, as well as our dedicated Latest Changes webpage.