The Starmer government, which has the most ambitious plan for decarbonizing the country in Europe, is going to make it easier to build nuclear power plants in what appears to be yet another piece of proof that an energy transition is unattainable without nuclear power.
Bloomberg reports that the government of Keir Starmer plans to widen the availability of sites for nuclear power plant construction, which has been extremely restricted. The goal: bring down energy costs and provide a boost for the economy.
‘;
document.write(write_html);
}
There are currently two nuclear power plants under construction in the UK. Both, however, have suffered delays and massive cost overruns, drawing strong public criticism. Hinkley Point C began construction over 10 years ago and is yet several years away from completion. The delay would also increase the final tab for the power plant.
Sizewell C has doubled in cost since 2020 when the original plans were made for the project, with developer EDF—which is also building Hinkley Point C—attributing the cost jump to construction material costs and general inflation.
This is perhaps why the new government plan for nuclear focuses on small modular reactors rather than the traditional large-scale facilities that take years to build. Per the government’s website, “Reforms to planning rules will clear a path for smaller, and easier to build nuclear reactors – known as Small Modular Reactors –to be built for the first time ever in the UK. This will create thousands of new highly skilled jobs while delivering clean, secure and more affordable energy for working people.”
Small modular reactors are touted as the nuclear power plants of the future but they have yet to be deployed at any scale, with cost challenges and red tape among the obstacles to this deployment. The Starmer government’s plan appears to focus on the red tape as well as opposition from local communities to new nuclear power plants.
By Irina Slav for Oilprice.com
More Top Reads From Oilprice.com
- China Slaps Retaliatory Tariffs on U.S. Crude and LNG
- Goldman Sachs: U.S. Tariffs Will Have Short-Lived Limited Impact on Oil Prices
- Trade Dispute Could Force U.S. to Buy Venezuelan Oil, Canada Says
