22 July 2025
Centrica is acquiring a 15% stake in Sizewell C
Our total funding obligation is capped at £1.3bn
A base case IRR of 12%, with incentives to deliver ahead of budget
Sizewell C will create over 10,000 direct jobs at peak construction
The project will create 1,500 apprenticeships
It will provide zero carbon baseload power to 6 million homes
Centrica acquires 15% Sizewell stake
Centrica has acquired a 15% stake in the new Sizewell C nuclear station that is currently being developed in East Suffolk.
Our total funding obligation is capped at £1.3 billion, and will generate an allowed return on equity of 10.8% real, fixed through the entire construction phase.
"The UK needs more reliable, affordable, zero carbon electricity, and Sizewell C will be critical to supporting the country’s energy system for many decades to come. That’s why I’m delighted to be announcing this milestone investment which will see Centrica commit £1.3 billion for a 15% equity stake in the project, and deepens our long-standing involvement in the UK nuclear industry. This isn’t just an investment in a new power station – it's an investment in Britain’s energy independence, our net zero journey, and thousands of high-quality jobs across the country."
Chris O'Shea, Group Chief Executive
Good for Centrica, Good for the UK
Sizewell C is a new 3.2GW nuclear power station under construction in Suffolk, in the South East of the UK. Once operational, Sizewell C will generate enough reliable, affordable sustainable electricity equivalent to approximately 7% of the UK’s current demand.
The project will have two European Pressurised Reactors and has been significantly de-risked through design learnings from Hinkley Point C. Sizewell C benefits from a unique regulatory framework covering the entire construction and operations period, with long-term UK government commitment and cross-party political support.
Our investment will allow Sizewell C to contribute to the UK’s baseload power generation, support the UK’s net zero ambitions, and help maintain grid stability as more intermittent renewable generation is added to the energy mix.
- Good for the UK; the project will create over 10,000 direct jobs at peak construction; support 3,500 British businesses; and provide value for money to UK taxpayers.
- Good for the energy transition; Sizewell C will generate affordable, zero carbon energy to 6 million UK homes for at least 60 years.
- Good for Centrica; we’re acquiring a 15% stake in Sizewell C. Our total funding obligation is capped at £1.3 billion and will generate a return on equity of 10.8% through the entire construction phase.
“La Caisse, Centrica and Amber’s multi-billion pound investment is a powerful endorsement of the UK as the best place to do business and as a global hub for nuclear energy. Delivering next generation, publicly-owned clean power is vital to our energy security and growth, which is why we backed Sizewell C. This investment will create thousands of good quality jobs and boost the local economy as we deliver on our Plan for Change.”
The Rt Hon Rachel Reeves, Chancellor of the Exchequer
Further Reading
Market announcement
Investor Presentation
Downloads
Investing for value at Sizewell C
- Market Announcement(PDF – 253kb)
- Investor presentation slides(PDF – 1.6mb)