Energy giant Centrica is reportedly on the brink of securing a 15% stake in Sizewell C, the long-delayed nuclear power station planned for Suffolk.
The move could inject much-needed momentum into the £40 billion project, which has spent years mired in regulatory hurdles, funding debates and political drift.
The timing is no accident. With French President Emmanuel Macron set to visit London for the Anglo-French summit later this week, government insiders expect a final investment decision (FID) to be announced during the high-level talks.
Labour has already committed £14 billion of public money to the project but without the FID in place, the station cannot break ground on main construction.
Still, over £2.5 billion in early-stage contracts have already been signed.
Centrica’s entry signals rising confidence in the project’s financial model. The British Gas owner would join a growing list of major investors eyeing stakes, including Brookfield Asset Management, which is reportedly considering a similar or larger share.
If the funding round closes as expected, EDF’s involvement could shrink to less than 10%, with the French utility stepping back after years at the project’s core.
Sizewell C is projected to deliver around 10% of the UK’s electricity once operational, offering a significant step forward on decarbonisation and energy security.
The government is understood to have offered generous terms to attract investment, with several sources saying the deal has been made highly attractive to secure big institutional money.
But the clock is ticking. Without full funding locked in, Sizewell C remains a high-stakes ambition rather than a shovel-ready solution.
Centrica’s move could prove the catalyst that finally gets it over the line. The next few days may define whether the UK’s nuclear revival moves from promise to reality.
