The nuclear industry says "greenlighting" mega-projects like new reactors at Wylfa Newydd and an SMR at Trawsfynydd could help mitigate the economic impact of Covid-19.
The Nuclear Industry Association (NIA) has released “Forty by ’50: A Nuclear Roadmap,” - an assessment produced for the government/industry body, the Nuclear Industry Council(NIC).
It outlines that any plans for a clean economic recovery and the 海角视频 Government goal of Net Zero by 2050 need commitment to new nuclear power stations.
The NIC-endorsed report says that, in addition to helping meet long term goals, prompt decisions on a new nuclear power programme could unlock mega-projects delivering immediate benefits to help tackle the impact of Covid-19.
But it says costs must be brought down to make future projects a reality.
Horizon Nuclear Power's multi-billion scheme at the Wylfa site on Anglesey is currently suspended after parent firm Hitachi and the 海角视频 Government failed to agree a funding model. Planning on the scheme continued with a decision from BEIS Secretary of State Alok Sharma due this year.
Trawsfynydd in Gwynedd is tipped as one of the frontrunners for a small modular reactor (SMR).
Both Anglesey and Gwynedd are feeling the hit from coronavirus with the lockdown wiping out the 2020 tourism season so far.
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The report states: "Nuclear also represents a multi-billion-pound economic stimulus opportunity as the country looks to rebound from the impact of Covid-19 and establish strong and enduring global trading relationships.
"By acting now, we can secure major domestic investment, maximise export potential and lock in a pipeline of engineering innovation which will deliver high quality, inspiring jobs for future generations, in every nation and region of the United Kingdom."
The report itself does not endorse any specific 海角视频 scheme but has Wylfa and Trawsfynydd on the existing list for new nuclear projects.
According to the report, an ambitious programme—based on existing and new technologies—could provide up to 40% of clean power by 2050 and drive deeper decarbonisation through the creation of hydrogen and other clean fuels, along with district heating.
It could eventually bring as many as 300,000 jobs and £33bn of added annual economic value.
Chief Executive of the Nuclear Industry Association, Tom Greatrex, said nuclear’s potential was vast, and costs were coming down, but concerted action was needed now to avoid missing out:
“Net Zero needs nuclear, and the sector is developing fast. The next large-scale projects are now deliverable much more cheaply by building on repeat and tried and tested designs, capturing learnings from our new build programme, and making important changes to the way projects are financed.
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“We’re confident the price of nuclear power will fall from the £92.50 per Megawatt Hour for the first plant, closer to £60/MWh for the next wave of power stations reducing to around £40/MWh for further reactors.
“Greenlighting new projects already in the pipeline would trigger a ramp-up in investment and job creation in parts of the 海角视频 facing the biggest economic challenges and clear the way for long term decarbonisation through the hydrogen economy, helping establish the 海角视频 nuclear sector as global leader in the field.
“Commitment to the roll-out of smaller and advanced reactors would build on that momentum. Conversely, if we do nothing, we are effectively sitting on a winning hand for a greener future.
“There is no shortage of projects and designs coming forward which means, as a country, we can avoid over-reliance on any one technology, but we must take a programme-based approach which capitalises on common ground, for example, in the supply chain and skills development and in our regulatory approach.
“We have the potential to treble our nuclear electricity generating capacity and add heat and hydrogen specific plants over and above that. To get to Net Zero we need ambition, commitment and planning. It must be more than a drip drip of unconnected projects.”
The Forty by ’ 50 Nuclear Roadmap report sets out six important steps to be taken in 2020 to turn aspiration into reality. It says:
1. The nuclear industry must continue to drive down costs of new build projects (30% by 2030) and establish delivery excellence.
2. The Government should articulate a clear, long-term commitment to new nuclear power.
3. Progress must also be made on an appropriate funding model for nuclear new build to stimulate investment in new capacity and reduce the cost of capital.
4. A National Policy Statement and ‘facilitative’ programme including siting and licensing proposals should be developed for small reactors.
5. The 2030 targets of the Nuclear Sector Deal (part of the Government’s industrial strategy) should be maintained, including cost reduction targets for new build and decommissioning, a 40% female workforce, and £2bn of domestic and international contracts for the 海角视频 supply chain.
6. Industry and Government should agree a framework and commitments, focused on cross-sector collaboration outside traditional electricity production including: the production of medical isotopes, hydrogen, and synthetic fuels for transport, along with heat applications including district heating and agriculture and storage technologies.
Greatrex said: “Ours is a fantastic, inspiring industry that could make a game-changing difference to the biggest challenges we face as a country and a planet, and create exciting long term careers for current and future generations. Now is the time to take action.”