Do you consent to this website placing cookies on your device? You can find out more by reading our cookies policy.

News

New report - Bridging the Gap: The Case for New Nuclear Investment

26 January 2021

The Centre for Policy Studies (CPS) has published a report on nuclear power in the UK, advocating for the construction of another large-scale power plant, alongside Hinckley Point C, to support the country’s drive toward Net Zero by 2050. Notably, it discusses the potential use of the Regulated Asset Base (RAB) model to finance the construction of new nuclear stations, which the UK Government is consulting on.

While the UK power generation sector has succeeded in cutting its emissions by over 62%, the report cites recent Committee for Climate Change (CCC) analysis that shows that electricity demand could double to approximately 677 TWh per annum by 2050. This increase is will likely be driven by the intensified uptake of electric vehicles, heating systems and other applications. 

The report notes that renewable energy sources (wind, solar and others) will likely increase their share of generation to meet some of this demand, but a lack of advanced battery capability and the intermittent nature of renewables means that zero-carbon nuclear power could be needed to replace shortfalls in generation.

The CPS advocates for the construction of new nuclear reactors to mitigate the expected loss of zero-carbon baseload capacity, as 14 of the 15 nuclear reactors currently in operation will be retired by 2030. Some of this loss will be met by the completion of Hinkley Point C (3.2 GW). The report cautions that without further replacement reactors the UK will “risk energy insecurity,” remain dependant on fossil-fuel power generation and, potentially, stymie the country’s transition to Net Zero. 

The report also contends that Government support for this type of generation will ensure that other areas of the sector are encouraged, such as small modular reactors (SMRs), stating that the Government should modernise regulations for the entire nuclear industry and harmonise regulations for SMRs with other countries, which could support their future export by reducing compliance costs in other markets. 

Read the report in full

Line

About Urenco

Urenco is an international supplier of enrichment services and fuel cycle products with sustainability at the core of its business. Operating in a pivotal area of the nuclear fuel supply chain for 50 years, Urenco facilitates zero carbon electricity generation for consumers around the world.

With its head office near London, UK, Urenco’s global presence ensures diversity and security of supply for customers through enrichment facilities in Germany, the Netherlands, the UK and the USA. Using centrifuge technology designed and developed by Urenco, and through the expertise of our people, the Urenco Group provides safe, cost effective and reliable services; operating within a framework of high environmental, social and governance standards, complementing international safeguards.

Urenco is committed to continued investment in the responsible management of nuclear materials; innovation activities with clear sustainability benefits, such as nuclear medicine, industrial efficiency and research; and nurturing the next generation of scientists and engineers.

Newsletter

Subscribe here to receive the latest news from Urenco


twitter

Latest tweets

Newsletter

Sign up to our newsletter by entering your email address below.