£1.7bn investment by nuclear in South West economy ‘just the beginning’ says industry chief
01 June 2020
• Money invested by Hinkley Point C in the region just part of the £14bn being spent by the project across the UK
• New nuclear projects in Britain now employ 10,000 people, with the nuclear industry as a whole supporting around 160,000 skilled jobs all over the country.
Welcoming the announcement that the Hinkley project passed its latest major construction milestone on schedule today, Tom Greatrex, Chief Executive of the Nuclear Industry Association said:
“It is excellent news that Hinkley remains on track, despite the challenges of the pandemic.
“This success follows on the heels of the news that the Hinkley Point C project beat its regional investment target five years early. 1,100 local companies have already benefited to the tune of billions, with 10,000 jobs already.
“This power station represents a big step towards Net Zero emissions. It also shows nuclear’s large scale green growth opportunities are real, and there is more to come”.
Last week the Sizewell C power station project in Suffolk applied for its major planning permission (‘Development Consent Order’). Horizon Nuclear Power’s Wylfa Newydd project on Anglesey is awaiting a decision on its equivalent application submitted in 2018, now scheduled for September. Work is underway in Essex on the Bradwell B nuclear power station with public consultation and site studies being carried out.
• Sizewell C aims to spend up to 70% of construction value in the UK and it will support over 2,500 businesses across the country. 25,000 job opportunities and at least 1,000 apprentices will be created during the station’s construction.
• Horizon has already spent over £2bn in developing Wylfa Newydd. Starting the build will trigger a £5bn plus programme of civils, mechanical, and electrical supply chain opportunities for UK companies, including local and regional firms. The first two years of construction will deliver supply chain opportunities worth around £875million. Construction will require over 20,000 roles and operations around 900 permanent high quality local jobs for 60+ years.
• Building Bradwell B would create tens of thousands of jobs and deliver billions of pounds of investment in the local and regional economies. Over 10,000 people years’ worth of work will be available locally during construction and around 3,000 at-peak jobs could be filled by local people already living within 90 minutes of the site.
“This is not jam tomorrow. Nuclear is already boosting regional growth in the UK. With the right vision and roadmap, we can increase this momentum, helping tackle the forthcoming recession and make real inroads into our climate change targets,” said Greatrex.
“Today we rely on nuclear for 40% of our low carbon electricity, and its widely accepted we need to maintain firm power in the energy mix alongside growth in variable renewables.
“Nuclear can continue to play a major role in clean electricity generation and contribute to deeper decarbonisation by supporting clean heating and producing low carbon fuels like Hydrogen. As well as the large scale projects with sites in development or construction, there are a number of small and advanced modular technologies in the pipeline”.
“A nuclear programme to replace and build on our current fleet would equate to tens of billions of pounds per year of value added to a Net Zero economy in 2050, and create hundreds of thousands of jobs.
“The Government understands the integral role of nuclear to decarbonisation, but now is the time to turn that support into clarity and commitments on the specifics. Its new energy policy must determine the size of the ambition, and set out a funding mechanism which removes unnecessary costs.
“The nuclear industry will rise best to the challenge of a planned programme which will bring down costs further still and create long term highly skilled jobs across the country for future generations who want to make a lasting difference.”
About the Nuclear Industry Association
As the trade association for the civil nuclear industry in the UK, the Nuclear Industry Association represents more than 250 companies across the UK’s nuclear supply chain.
For further information, please contact:
Hartley Butler George
Head of Communications, Nuclear Industry Association
44 (0)7803 696786
Head of Policy & Public Affairs, Nuclear Industry Association
44 (0)7894 595717