Business
Wylfa nuclear power plant plans go ahead, creating Anglesey jobs
Gareth Lewis,Wales political editor and
Steffan Messenger,Wales environment correspondent
BBCA first-of-its-kind nuclear power station is to be built on Anglesey, bringing up to 3,000 jobs and billions of pounds of investment.
The plant at Wylfa will have the UK’s first three small modular reactors (SMR), although the site could potentially hold up to eight.
Work is due to start in 2026 with the aim of generating power by the mid 2030s.
Prime Minister Sir Keir Starmer said: “Britain was once a world leader in nuclear power, but years of neglect and inertia has meant places like Anglesey have been let down and left behind. Today, that changes.”
The news was also welcomed by First Minister Eluned Morgan, who said she had been “pressing the case at every opportunity for Wylfa’s incredible benefits”.
She described it as “the moment Ynys Môn and the whole of Wales has been waiting for”, using the Welsh name for Anglesey.
The project, which could power about three million homes, will be built by publicly owned Great British Energy-Nuclear and is backed by a £2.5bn investment from the UK government.
Simon Bowen, chair of Great British Energy-Nuclear, said: “This is a historic moment for the UK, and is another momentous step in realising Britain’s potential in leading the way on nuclear energy.
“These first SMRs at Wylfa will lay the groundwork for a fleet-based approach to nuclear development, strengthening the UK’s energy independence and bringing long-term investment to the local economy.”
The company has also been tasked with identifying potential sites for another large-scale nuclear power plant, similar to those being built at Hinkley Point in Somerset and Sizewell in Suffolk, which have the potential to power the equivalent of six million homes.
It will report back by autumn 2026, and has been requested by Energy Secretary Ed Miliband to consider sites across the UK, including in Scotland, officials said.
It is not clear whether the SMR plans, which are smaller and more straightforward to build, rule Wylfa out from being considered after it was designated the preferred location in 2024 by the previous UK Conservative government.
The decision to opt for small modular reactors at Wylfa was criticised by the US Ambassador Warren Stephens, who said he was “extremely disappointed” by the decision.
He had been urging ministers to commit to a large-scale plant, with US firm Westinghouse having reportedly presented plans to build a new gigawatt station at the site.
“If you want to get shovels in the ground as soon as possible and take a big step in addressing energy prices and availability, there is a different path, and we look forward to decisions soon on large-scale nuclear projects,” Mr Stephens said.
‘Nuclear equivalent of an Ikea chair’
One industry expert described the announcement as “incredible”.
Prof Simon Middleburgh, director of the Nuclear Futures Institute at Bangor University, said: “They’re smaller than the average reactor, built in a modular manner in factories and shipped to the site to be put together a bit like an Ikea chair.”
The planned SMRs “fit nicely” with the existing grid capacity at the Wylfa site, offering a similar electricity output as the old power plant currently being decommissioned, he added.
There were “a few more hurdles to go through”, he cautioned – from securing regulatory approval, building the factories required to construct the SMRs and training the workforce that will run them.
Opponents of the project point to the fact that a long-term storage facility for the UK’s nuclear waste is yet to be agreed upon and say investment in renewable energy schemes – wind, wave and tidal – is what Anglesey needs.
Dylan Morgan of campaign group People Against Wylfa-B told BBC Wales the proposed SMRs were far from “small” and were in fact “an unnecessarily big development of an unproven technology”.
“Modular reactor technologies have been touted by many companies internationally but are still only plans on paper,” he said.
Wylfa beat off competition from another site at Oldbury in Gloucestershire, with the reactors designed by British engineering firm Rolls Royce, subject to final contracts, which are expected later this year.
The UK government said the plant would help provide energy independence.
The old nuclear power plant at Wylfa was switched off in 2015 and previous plans for a large-scale replacement fell through in 2021.
The company behind the scheme – the Japanese industrial giant Hitachi – cited spiralling costs and a failure to reach agreement with the UK government over funding.
Sasha Wynn Davies – now chair of the Wales Nuclear Forum – worked as a senior manager on those plans.
“I will never forget going to the secondary school in Amlwch and speaking to some of the young students and pupils there to unfortunately say that we were not progressing as a project,” she said.
“I will never forget their faces as they were so sad on behalf of their hopes for the future but also for their parents and what it meant for the area economically and socially.
“So now let’s hope our time has come again and there’s hope for our young people in particular.”
There is a huge political component to today’s announcement, with Labour at a UK level keen to show that it means business when it comes to big investment in infrastructure projects and Wylfa should demonstrate that.
In Wales, the first minister has been pushing hard for Wylfa – and the announcement comes just six months before the Senedd election.
Morgan has been trying to strike a balance: differentiating the Welsh party from UK Labour, but also pushing for extra funding, further devolution of powers and big investment announcements from her UK colleagues.
She has certainly got the latter, although plenty of other issues such as reform to the way Wales is funded and devolution of the Crown Estate – the body which owns much of the Welsh coastline and vital to future wind power – remain unresolved.
A bottled water sold at Waitrose could contain glass and should be returned to the store, the Food Standards Agency (FSA) warned.
The 750ml No1 Royal Deeside Mineral Water and the sparkling variety are being recalled “because of the possible presence of glass fragments upon opening the bottles,” which the FSA said “may cause injury and makes it unsafe to drink”.
Waitrose apologised and said it was recalling “some” bottles as a precaution.
The supermarket is asking customers not to use the bottles and to take them back to Waitrose or contact the company for a full refund.
“If you have bought any of the above products do not drink it,” the FSA said in its recall notice.
It added that the supermarket would be putting up notices in its shops warning customers.
Deeside water is produced in Scotland from natural springs in the Cairngorms national park.
The firm produces special batches for Waitrose, which are affected by the recall. Each bottle costs around £1.60p at Waitrose stores.
It is not clear exactly how many bottles have been sold and what proportion of bottles are affected.
The batch codes for the recalled mineral water are: NOV 2027 28, DEC 2027 01, DEC 2027 02, DEC 2027 10, DEC 2027 11 and DEC 2027 16, with best before dates of November and December 2027.
The batch codes for the recalled sparkling water are: DEC 2027 01, DEC 2027 03, DEC 2027 12, DEC 2027 15 and DEC 2027 25, with a best before date of December 2027.
The FSA advised people contact Waitrose Customer Care on 0800 188 884, choosing option 4.
Business
PPF, Post Office FD, SSY: Govt Keeps Interest Rates On Small Savings Schemes Unchanged For Q4 FY26
Last Updated:
PPF, NSC, SSY, KVP, Post Office Deposits: Check latest interest rates on small savings schemes for the period between January 1 to March 31 this year.
Small savings schemes rate update.
PPF, Post Office FD, SSY, NSC Interest Rates: The government on Wednesday, December 31, 2025, announced that the interest rates on small savings schemes, including PPF, SSY, NSC, and post office deposits, will remain unchanged for the fourth quarter of FY 2025-26 (from January 1, 2026, to March 31, 2026), according to a finance ministry notification.
“The rates of interest on various small savings schemes for the fourth quarter of FY2025-26 starting from January 1, 2026, and ending on March 31st, 2026, shall remain unchanged from those notified for the third quarter (October 1, 2025, to December 31, 2025) of FY 2025-26″, the Department of Economic Affairs, Ministry of Finance, said in an official notification on December 31, 2025.
Latest Interest Rates On Small Savings Schemes
Sukanya Samriddhi Scheme Deposits: under the Sukanya Samriddhi scheme will continue to attract an interest rate of 8.2%.
Three-Year Term Post Office Deposit: The interest rate on a three-year term deposit remains at 7.1%.
Public Provident Fund (PPF) and Post Office Savings Deposit: The interest rates for Public Provident Fund (PPF) and post office savings deposit schemes will remain unchanged at 7.1% and 4%, respectively.
Kisan Vikas Patra: The interest rate on the Kisan Vikas Patra will be 7.5%, with investments maturing in 115 months.
National Savings Certificate (NSC): The National Savings Certificate (NSC) will attract an interest rate of 7.7% for the April-June 2025 period.
Monthly Income Scheme: The Monthly Income Scheme will earn an interest rate of 7.4% for investors.
The government last revised some schemes’ rates for the fourth quarter of 2023-24. Interest rates on small savings schemes are notified by the government every quarter.
The central government is mandated to review and set interest rates for small savings schemes every quarter. Interest rates on post office schemes are determined based on the methodology suggested by the Shyamala Gopinath Committee.
What Are Small Savings Schemes?
Small savings schemes are government-backed deposit schemes designed to promote savings among Indian citizens, especially those with low to moderate incomes. They are considered safe investments and are offered through post offices and select banks. Popular schemes include Public Provident Fund (PPF), National Savings Certificate (NSC), Sukanya Samriddhi Yojana (SSY), Senior Citizen Savings Scheme (SCSS), Post Office Monthly Income Scheme (POMIS), Time Deposits and Recurring Deposits, Interest rates on these schemes are reviewed quarterly by the government and are influenced by the yield trends in the secondary market for government securities.
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December 31, 2025, 20:02 IST
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UK energy bills are set to fall by £138 by April – despite households expecting a rise on Thursday during the next bout of cold weather.
Experts at Cornwall Insight said they expect energy bills to fall by £138, or 8 per cent, to £1,620 a year when the cap is next updated in April due to government measures announced in the recent Budget.
Chancellor Rachel Reeves said £150 would be cut from the average household bill from April by scrapping the Energy Company Obligation (Eco) scheme introduced by the Tories in government.
Wholesale energy prices have also dropped in recent weeks, which is set to keep a lid on energy price hikes from April, according to Cornwall Insight.
But, before then, many households’ energy bills are to rise on New Year’s Day, just as a swathe of cold health alerts have been issued for large areas of the UK.
The 0.2 per cent increase to Ofgem’s energy price cap will equate to a rise of about 28p a month for the average household in England, Wales and Scotland remaining on a standard variable tariff.
This amounts to an average overall bill of £1,758 a year, up from the current £1,755.
Regulator Ofgem said Thursday’s increase in the cap, which was announced in November, was being driven by the funding of nuclear power projects and discounts to some households’ winter bills.
This included funding the government’s Sizewell C nuclear power plant in Suffolk – with an average of £1 added to each household’s energy bills per month for the duration of the £38 billion construction.
An increase to standing charges – the amount consumers pay per day to have energy supplied to their homes – was also largely due to costs linked to the government’s warm home discount scheme.
Around 2.7 million more low-income households, including 900,000 families with children, are eligible for the £150 discount this winter.
However, the regulator said the new price cap was £37 lower than a year ago when adjusted for inflation.
Ofgem’s price cap sets a maximum rate per unit and standing charge that customers can be billed when they are not on a fixed tariff.
It does not limit total bills because households still pay for the amount of energy they consume.
The price cap increase comes just as a yellow warning for snow and ice has been issued for parts of Scotland north of the central belt from 6am on New Year’s Day until midnight on January 2.
It comes as amber cold health alerts have been issued for the North East and North West of England, which are due to remain in place until noon on January 5, with temperatures expected to fall to 3-5C.
Yellow cold health alerts have been issued by the UK Health Security Agency (UKHSA) for London and the East, South East and South West of England, as well as the East and West Midlands and Yorkshire and the Humber.
Simon Francis, co-ordinator of the End Fuel Poverty Coalition, said: “It really is a case of every little doesn’t help as households spend a fifth winter in the energy bills crisis. Tiny movements in the price cap still hit hard for families choosing between heating and eating.
“People continue to live in cold, damp homes, where the risks go beyond discomfort and into real danger, including exposure to carbon monoxide. Younger adults, private renters and households with children are among those most at risk as people cut back on heating, delay repairs and try to block draughts just to stay warm.
“Meanwhile, the wider energy industry has made more than £125 billion in UK profits since 2020, including firms operating in a dying North Sea. This isn’t a crisis of scarcity, it’s a crisis of priorities. Ministers must move beyond short-term price cap tweaks and get serious about ending fuel poverty by investing in energy efficiency, reforming energy pricing, introducing a fair social tariff and fully funding the warm homes plan.”
Which? energy editor Emily Seymour said: “As we head into the coldest months of the year, many households will be concerned that the energy price cap will increase slightly in the new year.
“There are several deals on the market for lower than the price cap so now is a good time to shop around if you’re looking to fix. As a rule of thumb, we’d recommend looking for deals cheaper than the current price cap, not longer than 12 months and without significant exit fees.
“If you’re on a variable tariff, make sure to submit a meter reading to ensure you pay the cheaper rates for any energy used before the new price cap takes effect.”
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