April 2023
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This conference looked at the next steps for growing the UK nuclear industry.
It was a timely opportunity to assess the readiness of small modular reactors, and the role of advanced nuclear technologies in meeting the target of generating 24GW of nuclear power by 2050, in light of developments including:
- a forthcoming announcement on Great British Nuclear - the flagship body tasked with supporting ambitions to triple nuclear power generation, and with developing a pipeline of new nuclear builds
- UK government investment of £700m into Sizewell C
- consultation on the Nuclear Decommissioning Authority Draft Business Plan
With the Government committing to a final investment decision on at least one large-scale nuclear power station this Parliament, stakeholders and policymakers examined what is needed to meet this goal.
Delegates also assessed wider sector delivery plans, including financing, site preparation, and acquiring planning consent and licenses - as well as considering impacts on local communities, the workforce and the environment.
Further sessions discussed implementation of the Regulated Asset Base (RAB) model, and plans to secure long-term financing and investment, in addition to assessing the potential role of nuclear in wider decarbonisation pathways and reducing electricity costs for consumers.
We are pleased to have been able to include keynote sessions with Erin Coghlan, Deputy Director, Nuclear Projects and Development, Department for Energy Security and Net Zero; Florian Wagner, Great British Nuclear Team, Department for Energy Security and Net Zero; Alastair Evans, Director of Corporate and Government Affairs, Rolls Royce SMR; Julia Pyke, Director of Finance and Economic Regulation, Sizewell C; and Alan Raymant, Chief Executive, Cwmni Egino;.
Overall, sessions in the agenda looked at:
- expansion: priorities for expanding nuclear delivery across the UK to meet 2050 targets - latest developments across large, small and advanced reactors
- capability levels: the anticipated role of Great British Nuclear - capacity to facilitate new builds - increasing the pace of development
- finance: securing long-term funding for nuclear development in the UK - implications of the recent RAB model - ways to help level the costs of renewables and nuclear
- future projects: strategies for streamlining project development - planning, consent and licensing requirements - how regulatory frameworks can incentivise growth
- workforce: growing the workforce - developing the skills chain - preparing for new builds and accelerated project timelines
- the wider role of nuclear: impact on decarbonisation targets - reusing infrastructure assets across disposable power sources - scope to reduce consumer energy bills
- policy: reducing the anticipated gap in supply - measuring progress towards delivering reliable and affordable low-carbon power
The conference was an opportunity for stakeholders to consider the issues alongside key policy officials who attended from the CMA; DBT; Defra; Department for Infrastructure, NI; DESNZ; DfE; DLUHC; DSIT; Department of Finance, NI; FCDO; GLD; HM Treasury; HSE; NIRO; Ofgem; The Planning Inspectorate; and the Welsh Government - as well as by parliamentary pass-holders from both Houses of Parliament.
