Latest news with #SizewellB
Time of India
a day ago
- Business
- Time of India
UK announces $19 billion investment in first major nuclear plant since 1990s
London: Britain will invest 14.2 billion pounds ($19 billion) to build a new nuclear station that will reduce the UK's reliance on volatile international fossil fuel markets, the government said on Tuesday. Officials said the investment will go into building the new Sizewell C nuclear power plant in Suffolk, on England's eastern coast, saying it will generate enough low-carbon electricity to power 6 million homes when it becomes operational in the 2030s. Prime Minister Keir Starmer said previous governments had dithered and delayed over nuclear power. No new nuclear plant has been opened in the UK since Sizewell B in 1995. "Having our own energy in this country that we control, gives us security, gives us independence, so (Russian President Vladimir) Putin can't put his boot on our throat," Starmer said. "And it means that we can control the prices in a way that we haven't been able to in recent years, which has meant very high prices for businesses, for households and for families." The government also announced that Rolls-Royce is the preferred bidder to develop a number of small modular reactors, which it said can power around 3 million homes and help fuel power-hungry industries like AI data centres. The Treasury said building Sizewell C will create 10,000 jobs. The investment announced Tuesday is in addition to 3.7 billion pounds the UK government already committed to the project. Nuclear power is seen as an increasingly important electricity source as the government seeks to decarbonize Britain's electricity grid by 2030, replacing fossil fuels with low-carbon power. The UK also wants to reduce its dependence on imported oil and gas, especially in light of soaring energy prices following Russia's invasion of Ukraine. But critics have said nuclear plants are far more expensive and slow to build compared with renewable energy options such as solar and wind power. Environmental groups have also argued Sizewell C will damage local nature reserves that host wildlife like otters and marsh birds. About 300 people joined a protest against the development at the Suffolk site over the weekend. "Net zero is supposed to happen by 2030 - there is no way this is going to be completed by then," said Jenny Kirtley, a local resident who chairs the campaign group Together Against Sizewell C. (AP)
Business News Wales
2 days ago
- Business
- Business News Wales
UK Government Confirms £14.2bn Investment to Deliver Sizewell C
Energy Secretary Ed Miliband has said the UK needs new nuclear to 'deliver a golden age of clean energy abundance' as the UK Government announced a £14.2 billion investment to build Sizewell C nuclear plant. Ten thousand jobs will be created , the UK Government said, including 1,500 apprenticeships. It added that the funding would also support thousands more jobs across the UK. The company has already signed £330 million in contracts with local companies and will boost supply chains across the UK with 70% of contracts predicted to go to 3,500 British suppliers, supporting new jobs in construction, welding, and hospitality. The equivalent of around six million homes will be powered with clean homegrown energy from Sizewell C. The announcement comes as the UK Government is set to confirm one of Europe's first Small Modular Reactor programmes. Taken together with Sizewell C, this delivers the biggest nuclear building programme in a generation, it said. Energy Secretary Ed Miliband said: 'We will not accept the status quo of failing to invest in the future and energy insecurity for our country. 'We need new nuclear to deliver a golden age of clean energy abundance, because that is the only way to protect family finances, take back control of our energy, and tackle the climate crisis. 'This is the Government's clean energy mission in action- investing in lower bills and good jobs for energy security.' The UK opened the world's first commercial nuclear power station in the 1950s, but no new nuclear plant has opened in the UK since 1995, with all of the existing fleet except Sizewell B likely to be phased out by the early 2030s. Great British Nuclear is expected to announce the outcome of its small modular reactor competition imminently, the first step towards the goal of driving down costs and unlocking private finance with a long-term ambition to bring forward one of the first SMR fleets in Europe. Small modular reactors are expected to power millions of homes with clean energy and help fuel power-hungry industries like AI data centres. The UK Government said it was also looking to provide a route for private sector-led advanced nuclear projects to be deployed in the UK, alongside investing £300 million in developing the world's first non-Russian supply of the advanced fuels needed to run them. Companies will be able to work with the UK Government to continue their development with potential investment from the National Wealth Fund. The UK Government is also making a record investment in R&D for fusion energy, investing over £2.5 billion over 5 years. This includes progressing the STEP programme (Spherical Tokamak for Energy Production), the world-leading fusion plant in Nottinghamshire, creating thousands of new jobs and with the potential to unlock limitless clean power.
Rhyl Journal
2 days ago
- Business
- Rhyl Journal
Key questions answered on Sizewell C after Reeves confirms nuclear investment
It comes ahead of the spending review on Wednesday, where Ms Reeves will outline departmental budgets for the next three years. Here we answer key questions about Sizewell C and the Government's wider nuclear power plans. – What is the Sizewell C nuclear plant? Sizewell C was first proposed 15 years ago on a site by the hamlet Sizewell, which sits on the Suffolk coast between Aldeburgh and Southwold. The area is already home to two separate power stations, the decommissioned Sizewell A nuclear plant and pressurised water reactor Sizewell B. Nuclear power plants use a process called nuclear fission, where atoms split, releasing heat which is then used to generate electricity. – How much funding has the Government announced? The Chancellor said £14.2 billion will be invested to build the Sizewell C plant, marking the end of a long journey to secure funding for the project since it was first earmarked in 2010. At the peak of construction, Sizewell C is expected to provide 10,000 jobs. The company behind the project has already signed £330 million worth of contracts with local businesses. Elsewhere, the Government confirmed one of Europe's first small modular reactor (SMR) programmes, backed by £2.5 billion in taxpayers' money over five years. Ministers announced Rolls-Royce as the winners of a long-running competition on Tuesday for the bid to build the SMR programme. – How could Sizewell C contribute to the UK's future energy system? Sizewell C will power the equivalent of six million homes and is planned to be operation in the 2030s, the Government said. It is also understood that the plant will generate electricity for 60 years. The Treasury said that, combined with the ambition to build SMRs, it would deliver more new nuclear energy to the grid than over the previous half century by the 2030s. It comes as nuclear plants are seen as increasingly important electricity sources as the Government tries to decarbonise Britain's grid by 2030, replacing fossil fuels with green power. The last time Britain completed one was in 1987, which was the Sizewell B plant. Hinkley Point C, in Somerset, is under construction and is expected to produce enough power for about six million homes when it opens, but that may not be until 2031. Sizewell C is part of the Government's wider ambitions to support clean power, such as wind and solar, and decarbonise the country's power grid to tackle the climate crisis and ensure future energy security. – What are small modular reactors? SMRs are a nuclear fission reactor that are a fraction of the size of a traditional nuclear plant. This means they can be built on smaller sites across the country, closer to where the electricity is needed. Still an emerging technology, only China and Russia have successfully built operational SMRs. The Government says the newly-announced UK project could support up to 3,000 new skilled jobs and power the equivalent of around three million homes, with a first site expected to be allocated later this year by state-owned Great British Energy – Nuclear. The hope is eventually attract private investment, especially from tech companies, which might build SMRs to power data centres.– Who has welcomed the Government funding? Trade unions welcomed the move, which the Treasury said would go towards creating 10,000 jobs, including 1,500 apprenticeships. The GMB union said giving Sizewell C the go-ahead was 'momentous'. Regional secretary Warren Kenny said: 'Nuclear power is essential for clean, affordable, and reliable energy – without new nuclear, there can be no net zero. 'Sizewell C will provide thousands of good, skilled, unionised jobs and we look forward to working closely with the Government and Sizewell C to help secure a greener future for this country's energy sector.' Mike Clancy, general secretary of Prospect, said: 'Delivering this funding for Sizewell C is a vital step forward, this project is critical to securing the future of the nuclear industry in the UK. 'New nuclear is essential to achieving net zero, providing a baseload of clean and secure energy, as well as supporting good, unionised jobs. 'Further investment in SMRs and fusion research shows we are finally serious about developing a 21st-century nuclear industry. 'All funding must be backed up by a whole-industry plan to ensure we have the workforce and skills we need for these plans to succeed.' – Who has criticised the plans? Various campaigners oppose the plant and have criticised the decision to commit the funding, saying it is still not clear what the total cost will be. Alison Downes of Stop Sizewell C said ministers had not 'come clean' about the full cost of the project, which the group has previously estimated could be some £40 billion. 'There still appears to be no final investment decision for Sizewell C, but £14.2 billion in taxpayers' funding, a decision we condemn and firmly believe the Government will come to regret. 'Where is the benefit for voters in ploughing more money into Sizewell C that could be spent on other priorities, and when the project will add to consumer bills and is guaranteed to be late and overspent just like Hinkley C? 'Ministers have still not come clean about Sizewell C's cost and, given negotiations with private investors are incomplete, they have signed away all leverage and will be forced to offer generous deals that undermine value for money. Starmer and Reeves have just signed up to HS2 mark 2.' Environmental campaigners have also warned of the impact the plant could have on local wildlife, given Sizewell is surrounded by protected areas. The whole coast is an area of outstanding natural beauty (AONB), the shingle beach is a site of special scientific interest (SSSI) while the nearby Sizewell Marshes and Leiston Sandlings are special protected areas (SPAs) for birds. Many argue that ministers should focus on investing in renewable energy, such as wind farms, instead.
Yahoo
2 days ago
- Business
- Yahoo
Ed Miliband's nuclear golden era could soon become a new dark age
This Government is fond of making grandiose claims for things that are yet to happen. The latest is Ed Miliband's declaration that we are in 'a golden era of nuclear power.' He has made a series of announcements that may or may not come to fruition over the next two decades, including a new nuclear plant at Sizewell with £14 billion of public money behind it. But Mr Miliband is getting well ahead of himself. History shows that few public policies of modern times have been more mishandled. Britain once led the world in nuclear energy and it was very much a cross-party venture. The post-war Attlee government established the Atomic Energy Research Establishment and the first ever commercial nuclear reactor was built at Calder Hall under the Tories in 1956 just as the Suez crisis increased concerns over the supply of oil. British nuclear expertise was second to none and sought around the world. Under both Conservative and Labour administrations, the UK became a leader in nuclear power development, commencing operations on 26 Magnox reactors between 1956 and 1971. The technology chopped and changed, moving from advanced gas-cooled reactors (AGRs) in the 1970s to pressurised water reactors (PWRs) and even a fast-breeder reactor experiment at Dounreay in Scotland, opened amid great fanfare by Margaret Thatcher but which has now closed. Her government set in train a plan for eight new PWRs, only one of which – Sizewell B – was ever built. What happened? One answer is North Sea oil and gas. Fears about fuel scarcity and sky high prices abated as more came ashore. Cheap gas made the cost of nuclear look prohibitive to politicians fixated only on the short term. Meanwhile, across the Channel, the French, with no oil and depleted coal reserves, invested instead in nuclear power. By 1979 they had installed 56 reactors, satisfying their power needs and even exporting electricity to other European countries, including us. The French are even going to be building Sizewell C. They produce 70 per cent of their electricity by nuclear fission, which does not emit CO2, and are not dependent on energy from volatile regions like the Gulf or despotic regimes like Russia. This serendipity was as much a function of force majeure as foresight. As the French said 'no oil, no gas, no coal, no choice'. As a result they have found themselves in a better position than Britain in the switch to low carbon renewables. Because of the apparent bonanza provided by North Sea oil, we neglected the one source of power that would help create self-sufficiency and meet climate change objectives. Only when it was too late and much of the industry's expertise had been lost did the last Labour government try to reactivate the nuclear programme. Ironically, it was Mr Miliband as Environment Secretary who revived the programme 15 years ago in the teeth of objections from Labour 'greens'. Yet only one new reactor at Hinkley Point – using French technology and, to begin with, Chinese finance – has been given the go ahead. It is way behind schedule by at least six years and massively over budget. For all the trumpet-blowing is the new Sizewell announcement just another milestone along a road paved with good intentions and wretched decision-making? We know it will be hugely expensive and the idea of it coming on stream within 10 years is for the birds. Since it is a copy of Hinkley it should benefit by learning from the mistakes made there. But few can have confidence in the project meeting any of its financial targets or the timetable for construction because nothing in this country ever does. Around the world there is a boom in nuclear power building as countries see it as an essential complement to wind and solar, not least because it provides a baseload and is not dependent on the weather. Sixty reactors are being built globally – 30 of them in China, which has also opened a thorium plant, something we could have done years ago since we have plentiful supplies and the process reduces waste. Is there any area in which the UK can press ahead? Tucked away in his Telegraph article this week, Miliband says the Government is ramping up spending on nuclear fusion research, though this seems more a token mention than an enthusiastic embrace. Yet fusion is one area where the British do have a great deal of expertise, with start-up companies well ahead of any European competitors in raising investment. It is always said that fusion is the future that never arrives because it involves replicating the same processes seen on the Sun. About 35 years ago two chemists shocked the world by claiming they had come up with 'cold fusion' obviating the need to produce the excessive temperatures needed. But the science was flawed, even though some adherents still think cold fusion is possible. Fusion technology is advancing rapidly and is likely to accelerate with the help of AI, high temperature superconducting magnets and supercomputers. But those in the business fear the Government is making the same mistakes as its predecessors in failing to measure the long-term in decades, not parliamentary sessions. China, Japan and America are now in the vanguard of a technology in which the UK once led, as it did with nuclear fission. Arguably, the most important aspect of Miliband's plan is the green light for a fleet of small modular reactors (SMRs), though getting planning agreements past local communities will be hard. Even this has been fraught with bureaucracy and delay. A competition to find a developer for SMRs has taken two years before alighting on Rolls Royce. Why has it taken so long? The potential offered by SMRs was identified years ago; yet once again, government dithering has led to everything being done when it is too late to fill the energy gap that will threaten black-outs in a few years' time. This is because the switch to renewables, the ban on new North Sea extraction licences and the demise of coal will make the decommissioning of existing nuclear power stations even more problematic before new ones come on stream. How long before Mr Miliband's golden era turns into a dark age? Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
Yahoo
2 days ago
- Business
- Yahoo
UK announces $19 billion investment in first major nuclear plant since the 1990s
LONDON (AP) — Britain will invest 14.2 billion pounds ($19 billion) to build a new nuclear station that will reduce the U.K.'s reliance on volatile international fossil fuel markets, the government said Tuesday. Officials said the investment will go into building the new Sizewell C nuclear power plant in Suffolk, on England's eastern coast, saying it will generate enough low-carbon electricity to power 6 million homes when it becomes operational in the 2030s. Prime Minister Keir Starmer said previous governments had dithered and delayed over nuclear power. No new nuclear plant has been opened in the U.K. since Sizewell B in 1995. 'Having our own energy in this country that we control, gives us security, gives us independence, so (Russian President Vladimir) Putin can't put his boot on our throat," Starmer said. 'And it means that we can control the prices in a way that we haven't been able to in recent years, which has meant very high prices for businesses, for households and for families." The government also announced that Rolls-Royce is the preferred bidder to develop a number of small modular reactors, which it said can power around 3 million homes and help fuel power-hungry industries like AI data centers. The Treasury said building Sizewell C will create 10,000 jobs. The investment announced Tuesday is in addition to 3.7 billion pounds the U.K. government already committed to the project. Nuclear power is seen as an increasingly important electricity source as the government seeks to decarbonize Britain's electricity grid by 2030, replacing fossil fuels with low-carbon power. The U.K. also wants to reduce its dependence on imported oil and gas, especially in light of soaring energy prices following Russia's invasion of Ukraine. But critics have said nuclear plants are far more expensive and slow to build compared with renewable energy options such as solar and wind power. Environmental groups have also argued Sizewell C will damage local nature reserves that host wildlife like otters and marsh birds. About 300 people joined a protest against the development at the Suffolk site over the weekend. 'Net zero is supposed to happen by 2030 — there is no way this is going to be completed by then," said Jenny Kirtley, a local resident who chairs the campaign group Together Against Sizewell C.
