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Cost drivers identified to support investment in new nuclear power and its role in the UK’s future, low carbon energy system

30 April 2018

Mike Middleton
Mike Middleton Strategy Manager

As long as nuclear power is cost competitive within the overall energy mix, it has the potential to play a significant role in the UK’s transition to a low carbon economy. The challenge is to realise cost reductions across a sequence of new nuclear power reactors, which can meet the expectations of Government, investors and consumers.
Unlike other low-carbon technologies such as offshore wind and carbon capture and storage, fleet deployment itself does not necessarily generate cost reduction for nuclear power plant projects. However, such cost reductions cannot be materialised without deployment of a new nuclear fleet. There is evidence of previous UK expertise in the cost-effective delivery of nuclear power projects, but this “know how” must be regenerated through an integrated programme and applied to delivering a fleet of new nuclear projects.
This report we hope will add to the evidence base which will inform UK nuclear activity in the coming years in support of the soon to be announced nuclear sector deal.