Johnson promises ‘state-of-the-art’ nuclear projects to meet net zero goals
It's in an effort to produce clean energy
New nuclear power stations will produce clean electricity and help protect the UK from global energy price spikes, Prime Minister Boris Johnson said.
The Government’s new net zero strategy commits to increasing capacity and includes a £120 million “future nuclear enabling fund” for new technologies.
The document said negotiations were continuing to take the Sizewell C scheme forward, and suggested that other sites, including Wylfa in north Wales, could be used for future projects.
The Prime Minister said: “We will make sure what you pay for green, clean electricity is competitive with carbon-laden gas, and with most of our electricity coming from the wind farms of the North Sea or state-of-the-art British nuclear reactors, we will reduce our vulnerability to sudden price rises caused by fluctuating international fossil fuel markets.”
The strategy restated the Government’s commitment to bring at least one large-scale nuclear project to the point of a final investment decision by the end of the Parliament, currently expected in 2024, and in December 2020 the Government announced the start of formal negotiations on Sizewell C in Suffolk.
It now intends to introduce a “regulated asset base” funding model to help secure investment in new nuclear plants.
The Government said it would also look at other schemes, including small modular reactors (SMR), which are more flexible and affordable than traditional power stations.
Alongside the new £120 million fund, which will “provide target support in relation to barriers to entry”, a previously announced £385 million package will support SMR design.
“Whether large or small-scale projects, there remain a number of possible sites available for these options, including Wylfa in north Wales,” the document said.
A previous effort to build a new plant on the Wylfa site on Anglesey was abandoned in January after Japanese backer Hitachi pulled out.
Tom Greatrex, chief executive of the Nuclear Industry Association, said: “It is very welcome to see the Government commit new money to the development of nuclear projects and set out its intention to bring Sizewell C to a final investment decision.”
Sue Ferns, senior deputy general secretary of the Prospect trade union, said: “This is a welcome announcement to accelerate the development of new nuclear energy generation, but we now need urgent support to turn these words into action.
“Confirmation of support for Sizewell C is an important first step but it is far from enough if we are going to meet our climate targets and replace the firm power capacity that is coming offline in the next few years.”
Published: by Radio NewsHub