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The UK Is Ramping Up Its Nuclear Energy Ambitions

The cost of development has increased significantly since EDF first gained project approval in 2012, which could make it the world’s most expensive nuclear plant……..$58.4 billion earlier in the year. Its completion date has also been delayed by three to four years, expected to be completed by 2031. …….a government spokesperson …… the plant is “not a government project” and stated, “any additional costs or schedule overruns are the responsibility of EDF and its partners and will in no way fall on taxpayers.” 

Oil Price, By Felicity Bradstock – May 30, 2024,

• The U.K. government aims to rapidly expand its nuclear energy sector, with two nuclear plants slated for the next decade and discussions around a third.
• The government hopes to meet up to 25 percent of the country’s electricity demand using nuclear power sources by 2050.

The U.K. government has ambitious plans for the rapid expansion of the country’s nuclear energy sector, with two nuclear plants slated for the next decade, and discussions around a third. EDF’s Hinkley Point C in Somerset and Sizewell C in Suffolk have both been approved by the government, expected to support the U.K.’s transition away from fossil fuels to greener alternatives in line with national climate pledges. 

The U.K. government has announced ambitious nuclear plans in recent years, aiming for the biggest expansion in nuclear power for 70 years. It hopes to meet up to 25 percent of the country’s electricity demand using nuclear power sources by 2050. This will mean a fourfold increase in the U.K.’s nuclear power production, to achieve an output of 24 GW by the mid-century. The Civil Nuclear Roadmap outlines the government’s nuclear plans, including the development of major nuclear facilities, as well as its small modular reactor (SMR) technology. The government also plans to invest up to $381 million in the domestic production of the fuel required to power high-tech new nuclear reactors, known as HALEU, currently only commercially produced in Russia.

The cost of development has increased significantly since EDF first gained project approval in 2012, which could make it the world’s most expensive nuclear plant. EDF previously stated that it expected the plant to cost around $22 billion, but it increased that estimate to around $58.4 billion earlier in the year. Its completion date has also been delayed by three to four years, expected to be completed by 2031. The firm blamed inflation, Covid, and Brexit for cost increases and project delays. While there were some public concerns for the price increase, a government spokesperson made it clear that the plant is “not a government project” and stated, “any additional costs or schedule overruns are the responsibility of EDF and its partners and will in no way fall on taxpayers.” 

In May, EDF was granted a site license by the U.K.’s nuclear regulator, the Office for Nuclear Regulation (ONR), for the development of its Sizewell C nuclear plant in Suffolk, in the south of England. This is the first of this type of license to be granted in over a decade. Sizewell C is expected to be a replica of the company’s Hinkley Point C. EDF is racing to reach a final investment decision on the project by the end of 2024. 

Unlike Hinkley, EDF holds just under a 50 percent stake in Sizewell, with the government holding just over 50 percent. The company is now seeking new investment following the banning of China’s CGN from funding the development due to security concerns. The French firm hopes to use lessons learned from the development of Hinkley to construct Sizewell within around nine years. 

Now, the U.K. government is in discussion over another potential nuclear plant development in Wales. The government announced it is holding conversations with major energy companies about the construction of a third new nuclear plant on a site at Wylfa on Anglesey in north Wales. The development of an additional site would help the U.K. to achieve its nuclear energy goals by the mid-century. There are reports that South Korea’s state-owned nuclear developer has been involved in early-stage discussions with the government about the multi-billion construction using APR1400 reactor technology. However, the American nuclear firm Westinghouse and the construction group Bechtel have shown interest in developing the project using Westinghouse’s AP1000 reactor technology…………………………………..  https://oilprice.com/Energy/Energy-General/The-UK-Is-Ramping-Up-Its-Nuclear-Energy-Ambitions.html

June 2, 2024 - Posted by Christina Macpherson | politics, UK