Tashkent, Uzbekistan (UzDaily.com) - The UK government may announce funding for a new nuclear power plant to meet its carbon reduction targets under the Net Zero strategy. This was reported by TASS with reference to the newspaper The Telegraph.

According to the newspaper, financing is likely to receive the Sizewell nuclear power plant in Suffolk County. This is a project of EDF Energy, a British integrated energy company wholly owned by France.

Government funding can include not only direct investment, but also the introduction of a guaranteed fixed price for each unit of energy produced at the facility. Sizewell’s new capacity will provide nearly 6 million homes with low-carbon energy for about 60 years, EDF Energy estimates.

The newspaper quoted a government spokesman who noted the importance of the nuclear power sector. “We are committed to approving at least one more large-scale nuclear project in the next few years to enhance energy security and create thousands of jobs,” he stressed.

According to The Telegraph, information on funding may appear ahead of the 2024 elections, when the government presents the relevant plan. The 150-page document is expected to detail exactly how Boris Johnson intends to deliver on his promise to reduce UK carbon emissions to “clean zero” by 2050.

A total of 13 nuclear power reactors operate in the United Kingdom, accounting for about 17% of the country’s energy balance. However, by 2024, this figure will be halved as the reactors are approaching the end of their service lives.