In a new report published, Energy UK is urging the Government to seize the moment and unleash the potential of nuclear energy to play a crucial role in a clean energy system and support the country’s economic growth.
It is a pivotal time for the nuclear industry with the 15,000 workforce at Hinkley Point C helping Britain relearn what it takes to build nuclear power, an imminent final investment decision on Sizewell C in spring and news awaited on further reactors large and small.
While nuclear currently supplies 13% of the UK’s electricity, four of the five operating stations are nearing the end of their operational lives – with the need not just to replace them but to also meet the UK’s increased demand for power over the coming decades.
Once up and running, Hinkley Point C will provide about 7% of the UK’s electricity while Sizewell C would double this capacity – but that will still require further expansion to meet an increase in demand that is forecast to double over the next 25 years as result of the UK electrifying its economy, heating and transport and the needs of new business developments like data centres.
As the report underlines, by providing a stable source of clean power to complement the ever-growing contribution made by renewables like wind and solar, nuclear can not only help meet this demand but also support economic growth both in the areas where plants are located as well as right across the country.
The nuclear sector currently employs more than 64,000 people while indirectly supporting another 211,000 jobs. At Hinkley Point C, 23,500 jobs have been created with 60% of the project’s value going to UK-based suppliers and £5.3 billion spent directly with businesses across the South West. Similar benefits would result from Sizewell C’s development with a third of the peak construction workforce expected to come from the local area.
Having developed a highly skilled workforce and active supply chain through the construction of Hinkley C, the report also stresses the importance of making the most of this existing expertise and experience by making a final decision on Sizewell C soon and also using it to support other future developments in the sector.
Notable amongst these could be SMRs which, by being smaller and quicker to build and more flexible on location, could be the ideal solution for tech companies whose data centres will require large amounts of power and who are increasingly investing in nuclear globally through Power Purchase Agreements.
Becoming a world leader in this technology would not only show how nuclear can support economic growth by meeting the demands of businesses looking to invest and locate in the UK but also present the chance to benefit from exporting this expertise to other countries facing the same challenges. Other areas of potential for nuclear identified in the report include hydrogen production, redeploying the heat produced in power stations for use in nearby buildings and industry and the quest to make fusion a reality.
Adam Berman, Director of Policy and Advocacy at Energy UK, said:
“Nuclear will play a crucial role in powering our economy, homes and businesses with our own sources of clean energy, complementing our ever-growing renewables capacity with baseload power and helping keep bills stable by removing our exposure to volatile fossil fuel costs.
“It can also provide a host of economic benefits, not just from building the stations themselves, but by developing expertise and experience in new technologies and being able to meet the needs of businesses looking to invest and locate in the country.
“But it is imperative that we seize this opportunity at a pivotal time for the industry as we await vital decisions that will shape the future of the nuclear industry and the role it will play over the coming decades. Our country has a proud history in this field but it’s been 30 years since the last new nuclear power station came into operation and it’s high time for the country to reclaim its role as a world leader and pioneer.”
Read full report, visit here.
