Spending review 2025: our verdict
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June marked an important moment for the UK as the government unveiled its latest Spending Review.
The UK has ambitious net-zero targets and a pressing need for energy security, so this month’s announcements were seriously important in terms of the green energy and the environment.
Here’s what happened…
The Sizewell C nuclear reactor
The government has committed £14.2bn towards funding the new Sizewell C nuclear plant in Suffolk, the total cost of which could be up to £40 billion. They say it will take a decade to complete but nuclear projects never come in on time. Hinkley Point C was supposed to be switched on in 2017 but now it’s estimated to be 2031 – a 14-year delay.
Sizewell C may eventually provide low-carbon electricity but the world has changed. It’s predicted to make seven per cent of the UK’s energy, but the same money spent on renewables would make 40 per cent of the energy we need – and those wind and sun parks could be up and running long before Sizewell C is ready.
Renewable energy is also cheaper. Hinkley Point C’s electricity will cost at least £128/MWh, almost twice the price of wind power.
This is our founder, Dale Vince’s verdict: “Sizewell C is a waste of public money - £40 billion of it. Nukes are always late and over budget – and make the most expensive electricity we’ve ever known. If we want to get our energy bills down – we have a faster, cheaper, cleaner option – power from the wind and the sun.”
Nuclear, but different
The chancellor has also announced £2.5 billion for small modular nuclear reactors, with Rolls Royce selected by the government to develop and build them.
The idea is that they will be easier and quicker to build than the likes of Hinkley Point C and Sizewell C, but they’re still not scheduled to be connected to the grid until the mid 2030s. That’s years after we hit the 2030 green energy target, something that’s entirely doable with today’s technology given the political will.
It begs the question: why do we need these expensive nuclear plants when renewables and batteries can solve our energy security problems long before they start generating power?
We’ll leave the last word to Dale Vince: “Let’s not fall into the megaproject illusion – new Nukes are not the answer. A rooftop revolution in solar energy is a far better thing to spend public money on - much faster and cleaner and it will actually lower bills, right now.”
Switch to Ecotricity today and we’ll turn your bills into sun and windmills – the future’s green, not nuclear!
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Switch to Ecotricity and we’ll use your bill money to build new sources of renewable energy and build a greener Britain.
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