Boost for nuclear as government drives UK power plant expansion

Energy Security Secretary Grant Shapps is set to announce how Great British Nuclear (GBN) will drive the rapid expansion of new nuclear power plants in the UK at an unprecedented scale and pace.

The government is also announcing today a grant funding package totalling up to £157 million:

The strategy intends to boost UK energy security, reduce dependence on volatile fossil fuel imports, create more affordable power and grow the economy, with the nuclear industry estimated to generate around £6 billion for the UK economy, said the government.

Companies can register their interest with GBN to participate in a competition for funding to help develop their products. This could result in billions of pounds of public and private sector investment in small modular reactor (SMR) projects in the UK – demonstrating the government delivering on its priorities to partner with the nuclear industry and jointly spearhead the future of nuclear technologies.

Unlike conventional reactors that are built on site, SMRs are smaller, can be made in factories and could transform how power stations are built by making construction faster, and less expensive.

READ MORE: Rolls-Royce secures funding for Small Modular Reactors

GBN will play a key role in helping the government hit its ambition to provide up to a quarter of the UK’s electricity from homegrown nuclear energy by 2050 and achieve among the cheapest wholesale electricity prices in Europe, whilst supporting jobs across the country.

In addition to supporting this emerging, more agile technology, the government remains committed to the mega projects of Hinkley Point C and Sizewell C and will work with GBN to consider the potential role of further large gigawatt-scale nuclear power plants in the UK energy mix.

Energy Security Secretary Grant Shapps said: "By rapidly boosting our homegrown supply of nuclear and other clean, reliable, and abundant energy, we will drive down bills for British homes and make sure the UK is never held to energy ransom by tyrants like Putin.

"Today, as we open Great British Nuclear and the competition to develop cutting-edge small modular reactor technology, which could result in billions of pounds of public and private sector investment, we are seeing the first brush strokes of our nuclear power renaissance to power up Britain and grow our economy for decades to come.

Minister for Nuclear Andrew Bowie said: "As long-standing pioneers of nuclear, today we’re marking its UK revival with the opening of Great British Nuclear, which will play an essential role in transforming the way we power Britain from Britain.

I look forward to seeing the world-class designs submitted from all around the world through the competitive selection process, as the UK takes its place front and centre in the global race to unleash a new generation of nuclear technology."

Simon Bowen, interim chair of GBN said: "GBN is core to delivering the government’s new nuclear programme.

"Building on the work done at Hinkley Point and Sizewell, today’s announcement of the start of the SMR selection process signifies a real step forward in delivering the scale of nuclear power that Britain needs for secure, sustainable energy future."

We look forward to working with all interested parties – technology vendors, the supply chain, the wider industry and local communities as we move this essential programme forward."

Up to £77.1 million of funding will be for companies to accelerate advanced nuclear business development in the UK and support advanced nuclear designs to enter UK regulation, maximising the chance of small and advanced modular reactors being built during the next Parliament.

Up to £58 million funding for the further development and design of a type of advanced modular reactor (AMR) and next generation fuel. AMRs operate at a higher temperature than SMRs and as a result they could provide high temperature heat for hydrogen and other industrial uses alongside nuclear power.

A further £22.3 million from the Nuclear Fuel Fund will enable eight projects to develop new fuel production and manufacturing capabilities in the UK, driving up energy security and supporting the global move away from Russian fuel.

Tom Greatrex, Chief Executive of the Nuclear Industry Association, said: "The launch of GBN marks a new era for nuclear deployment in the UK – helping drive a programme of construction at pace and at scale to strengthen our energy security, create good jobs across the country, and advance our net zero future by providing up to 25% of our future power needs.

"Focus on the SMR selection will demonstrate the commitment to deployment of innovative technologies and open up new opportunities for the UK industrial supply chain here and abroad. There a range of sites and communities across the country ready to host SMR technology, alongside the large scale nuclear capacity we will also need.

"Britain has an important leadership role in the global nuclear industry, and nowhere more so than in our determination to drive Russia out of the nuclear fuel markets. The government’s Nuclear Fuel Fund will bolster those world-class capabilities that make us uniquely placed to help our allies replace Russian supplies with Western nuclear fuel."