In reaction to the Nuclear Energy (Financing) Bill passing the House of Lords before being sent for Royal Assent, Tom Greatrex, Chief Executive of the Nuclear Industry Association, said,
“This bill is an important part of cutting financing costs and get on with building new nuclear stations. It will help enable Sizewell C, the next big nuclear project, and further large and small nuclear development, including the potential for a fleet of smaller modular reactors. It sends a clear message to investors that Britain backs nuclear as a green technology vital to our future energy system. Consumers will save money, business will get more predictable electricity costs and the UK will cut emissions and strengthen its energy security.”
Notes to editors
- The United Nations Economic Commission for Europe (UNECE) confirms that nuclear has the lowest lifecycle carbon of all technologies and the lowest land use and lowest mining and metal use of all low carbon technologies.
- The UK has six generating nuclear power stations, providing around 16% of the country’s electricity.
- Nuclear power has saved the UK 2.32 billion tonnes of carbon emissions, far more than any other source. The saving is equivalent to all UK emissions from 2015 through 2020.
- Three stations will retire by March 2024, and all but one will retire by 2030.
About the Nuclear Industry Association
As the trade association for the civil nuclear industry in the UK, the Nuclear Industry Association represents more than 200 companies across the UK’s nuclear supply chain.
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