Rishi Sunak has described nuclear energy as the “perfect antidote” to Britain’s energy challenges while launching a plan to support 80,000 jobs in the sector.
The Government will ramp up the clean power by up to four times to 24 gigawatts (GW) by 2050 – enough to provide a quarter of the UK’s electricity needs.
The civil and defence nuclear workforce will need to double over the next 20 years – supporting around 80,000 additional skilled jobs across the UK.
Energy Secretary Claire Coutinho and Mr Sunak insisted a revival of the sector will also reduce electricity bills and improve UK energy security.
The Prime Minister said: “Nuclear is the perfect antidote to the energy challenges facing Britain – it’s green, cheaper in the long term and will ensure the UK’s energy security for the long-term.
“This is the right long-term decision and is the next step in our commitment to nuclear power, which puts us on course to achieve net zero by 2050 in a measured and sustainable way.
“This will ensure our future energy security and create the jobs and skills we need to level up the country and grow our economy.”
The £300 million plan is the biggest expansion of nuclear power for 70 years, Ms Coutinho said.
It includes exploring a GW-scale power plant as big as Sizewell in Suffolk or Hinkley in Somerset, which are capable of powering six million homes each.
Ms Coutinho said: “Strengthening our energy security means that Britain will never again be held to ransom over energy by tyrants like Vladimir Putin. British nuclear, as one of the most reliable, low-carbon sources of energy around, will provide that security.
“We’re making the biggest investment in domestic nuclear energy in 70 years. Our £300 million plan to produce advanced nuclear fuel in the UK will supply nuclear plants at home and overseas – further weakening the Kremlin’s grip on global energy markets.
“From large gigawatt projects to small modular reactors, the UK’s wider nuclear revival will quadruple our nuclear capacity by 2050 – helping to power Britain from Britain.”
The surge in energy prices because of Russia’s war in Ukraine inflicted a sharp shock on Britons and the UK economy.
Around 35 per cent of all natural gas provided to the European continent came from Russia but only three per cent of the total UK gas supply came from the Russian Federation, in the form of liquefied natural gas.
The UK’s gas prices could have been a lot higher if it had relied more on gas from Russia.
Campaigners have welcomed the Government’s plans to invest millions of pounds into renewable energy but warned of the impacts of delays.
Jess Ralston, analyst at the Energy and Climate Intelligence Unit, said: “The challenge is the industry has a track record of running over budget and behind schedule, so this does little to boost the UK’s energy security any time soon.
“More offshore wind and insulating homes would help cut the UK’s ties with volatile gas prices, but the Government fumbled the last offshore wind auction and has driven down the number of homes it’s helping to insulate in the past couple of years.”
