Sizewell B life extension confirmed
We’re pleased to see that Sizewell B in Suffolk will now run until 2055 after the UK Government signed a 20-year regulated Contract for Difference deal. The station, in which British Gas owner Centrica holds a 20% stake, will receive a guaranteed strike price of £70.50/MWh (2025 prices, CPI-linked) from 2035 onwards.
This removes the usual ups and downs of wholesale power prices and gives the plant the certainty it needs for the required investment of around £800 million. The money is expected to come from existing cash flows, with no extra equity needed.
Generating around 3% of the UK’s electricity, Sizewell B is critical to delivering the reliable, zero-carbon baseload power that supports Britain’s energy security, protects skilled jobs and underpins a more resilient economy.
— Chris O’Shea, Group Chief Executive of Centrica
Why this matters for households
- Zero-carbon baseload that runs 24/7, helping balance wind and solar
- Supports around 2.5 million homes with clean power
- Adds long-term stability to the energy mix we all rely on
You can compare the latest energy tariffs on our site to see how nuclear and renewables are shaping the deals available right now. For official details on the CfD scheme, check the Department for Energy Security and Net Zero pages or Ofgem’s guidance.
It’s another step towards a more secure, lower-carbon grid — and we’ll keep watching how it feeds through to customer bills.
