Homegrown Nuclear Power to Fuel a Quarter of UK's Energy by 2050

Tuesday, 18 July 2023

The United Kingdom is setting the pace for global innovation in the energy sector with an ambitious plan to significantly expand its nuclear power capacity. The government's strategy, spearheaded by the newly formed Great British Nuclear (GBN), aims to ensure that by 2050, a quarter of the UK's electricity is generated from domestic nuclear energy, aligning with the country's net-zero deadline.

The GBN is leading an industry overhaul that could see the development of compact nuclear reactors, each with a power capacity of up to 300MWe. These advanced reactors, known as Small Modular Reactors (SMRs), are about a third of the size of traditional nuclear power reactors. The unique feature of SMRs is their compact size, which allows them to be manufactured in factories, potentially revolutionizing the construction of power stations by making the process faster and more cost-effective.

As part of this initiative, GBN is inviting companies to compete for funding to develop and install SMR technology. The Department for Energy Security and Net Zero anticipates that this competition could attract billions in public and private sector investment.

The expansion of the nuclear industry in the UK is expected to significantly boost the economy. Tom Greatrex, Chief Executive of the Nuclear Industry Association, has hailed the launch of GBN as the dawn of a new era for nuclear deployment in the UK. He emphasized that the initiative would strengthen energy security, create jobs, and contribute to the country's net-zero future by potentially supplying up to 25% of future power needs.

This initiative is part of a broader government strategy to reduce the UK's reliance on fossil fuels. By increasing the domestic supply of nuclear and other clean, reliable, and abundant energy sources, the government aims to ensure energy security and drive down energy costs for consumers.

The launch of GBN and the competition to develop SMR technology mark the beginning of a nuclear power renaissance in the UK. The government's ambitious plan aims to reposition the country as a global leader in nuclear power innovation, while also growing the economy and ensuring a sustainable energy future.