UK Embarks on Nuclear Renaissance: Major Investments in Small Modular Reactors and New Power Stations

UK nuclear power station with small modular reactors under construction.

The United Kingdom is set to usher in a new era of nuclear power with significant government investments aimed at bolstering energy security, creating jobs, and reducing energy bills. This ambitious plan includes the development of the UK’s first small modular reactors (SMRs) and the potential for new large-scale nuclear power stations.

Key Takeaways

  • Wylfa in North Wales selected to host the UK’s first Small Modular Reactor (SMR) nuclear power plant.
  • Sizewell C receives final investment decision, securing multi-billion-pound funding for clean power.
  • UK and US forge a new energy security deal to accelerate nuclear power development.
  • Government commits to the biggest expansion of nuclear power in 70 years, aiming to quadruple capacity by 2050.
  • Significant investment in domestic production of advanced nuclear fuel.

Wylfa to Pioneer UK’s First Small Modular Reactors

Wylfa on Anglesey, North Wales, has been chosen as the site for the UK’s inaugural small modular reactor (SMR) nuclear power station. This project is anticipated to be the most significant industrial investment in North Wales for a generation, expected to create up to 3,000 jobs and inject billions into the local economy by the mid-2030s. Great British Energy-Nuclear will back these SMRs, designed by Rolls-Royce SMR, positioning the UK as a leader in this cutting-edge technology with global export potential.

Sizewell C Secures Final Investment Decision

The Sizewell C nuclear power station in Suffolk has received the green light with a final investment decision, marking a crucial step in the UK’s nuclear revival. This multi-billion-pound project will provide clean power for approximately six million homes and create around 10,000 jobs during peak construction. The government will become the largest shareholder, alongside private investors, aiming to deliver electricity system savings of £2 billion annually once operational. The project is projected to cost around 20% less than its replica, Hinkley Point C.

UK-US Deal Boosts Energy Security

A landmark agreement between the UK and US governments is set to accelerate the development of new nuclear power stations in both countries. This partnership aims to streamline regulatory processes, potentially halving the time it takes to license new nuclear projects. The deal facilitates major commercial collaborations, including plans for up to 12 advanced modular reactors in Hartlepool and other projects across the UK, fostering job creation and private investment.

A ‘Golden Age’ of Nuclear Power

The government is pursuing an ambitious expansion of nuclear power, aiming to quadruple the UK’s nuclear capacity to 24GW by 2050. This represents the most significant expansion in 70 years and is central to the UK’s mission to become a clean energy superpower. The strategy includes exploring the development of a new large-scale power station comparable to Sizewell C and Hinkley Point C, alongside the SMR program. Furthermore, the UK is investing up to £300 million to establish domestic production of advanced nuclear fuel (HALEU), currently dominated by Russia, thereby enhancing energy independence and pushing Russia out of the global market.

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