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GB Energy handed £2.5bn bill for funding small modular reactors 

GB Energy handed £2.5bn bill for funding small modular reactors.
Financing nuclear projects will leave state-owned company less cash for
backing wind and solar technology.

Great British Energy, the government’s
flagship state-owned energy company, has been handed the £2.5bn bill to
support a new generation of small nuclear power plants, cutting the amount
it has to spend on wind, solar and other technologies.

Rolls-Royce’sefforts to develop Britain’s first small modular reactors will be funded
by GB Energy’s £8.3bn budget over this parliament, according to measures
announced in Wednesday’s spending review. Until now it had been unclear
which part of the government’s budget would cover the funding for the
small modular reactor programme.

One senior government official said the
moves amounted to “reprofiling” of spending commitments into GB
Energy’s budget that might have previously been funded by the Treasury or
energy department. It follows months of negotiations between the Treasury
and the energy department, led by Ed Miliband, over whether the cash Labour
pledged to GB Energy in last year’s election manifesto would be cut,
given the tight public finances.

 FT 11th June 2025 https://www.ft.com/content/a8e3a775-33c9-4ad6-b01a-bfb212dfdcbe

June 14, 2025 - Posted by Christina Macpherson | ENERGY, UK