The NIA welcomes today’s EDF commissioned report from IPPR as a valuable contribution from the respected independent think tank to the debate about the important role nuclear will play in Britain’s energy future.
The report confirms and reinforces the substantial benefits to UK economic growth and exports from new nuclear build which the report puts at £5 billion a year, as well as the significant growth in employment with the creation of 32,000 skilled jobs in construction and manufacturing.
A significant number of UK companies have the skills and capability to be competitive on nuclear tenders, and contribute to these major infrastructure projects.
The success of Laing o'Rourke and its French partner Bouygues, selected as the preferred bidders on a £2 billion EDF contract last week, is testament to the investment that UK firms are making and the success it can bring. Following a programme of new build the UK would be in an extremely strong position to export our skilled workforce and engineering solutions worldwide in markets estimated to double in value from around £700m annually now to between £1.2 - £1.7 billion by 2030.
The report states, "…the UK will need substantial investment in electricity generating capacity over the next 20 years to meet a likely rise in demand"
In response to this, Keith Parker, Chief Executive of the NIA commented,
"There is an urgent need for investment in the UK’s energy infrastructure. It is important that we maintain momentum to deliver nuclear’s contribution to secure, affordable, low carbon electricity."