{"id":602,"date":"2021-11-07T17:28:13","date_gmt":"2021-11-07T16:28:13","guid":{"rendered":"https:\/\/cornixs.com\/?p=602"},"modified":"2022-12-21T10:01:09","modified_gmt":"2022-12-21T09:01:09","slug":"uk-government-earmarks-funds-for-progressing-nuclear-project","status":"publish","type":"post","link":"https:\/\/cornixs.com\/de\/2021\/11\/07\/uk-government-earmarks-funds-for-progressing-nuclear-project\/","title":{"rendered":"UK government earmarks funds for progressing\u00a0nuclear project"},"content":{"rendered":"<div data-elementor-type=\"wp-post\" data-elementor-id=\"602\" class=\"elementor elementor-602\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-197df272 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"197df272\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-50a8c48a\" data-id=\"50a8c48a\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ee91749 elementor-widget elementor-widget-text-editor\" data-id=\"ee91749\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><strong><\/strong><\/p>\n<p class=\"wp-block-paragraph\">The UK government has announced up to GBP1.7 billion (USD2.3 billion) in funding for a large-scale nuclear power plant in its autumn budget and spending review. It said it is in &#8220;active negotiations&#8221; with EDF over the Sizewell C project in Suffolk. The announcement comes days after the government introduced legislation for funding future nuclear power stations in the UK.<\/p>\n<p>\u00a0<\/p>\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.world-nuclear-news.org\/BlankSiteASPX\/media\/WNNImported\/mainimagelibrary\/corporate%20branded\/Uk-Autumn-budget-2021-(BEIS).jpg?ext=.jpg\" alt=\"\" \/><\/figure>\n\n<p class=\"wp-block-paragraph\">(Image: UK Government)<\/p>\n\n<p class=\"wp-block-paragraph\">\u00a0<\/p>\n<p>In a statement about the measures announced yesterday by Chancellor Rishi Sunak in the autumn budget and spending review, the government said it would provide &#8220;up to GBP1.7 billion of direct government funding to enable a large-scale nuclear project to reach a final investment decision this parliament, subject to value for money and approvals.&#8221;<\/p>\n\n<p class=\"wp-block-paragraph\">In December 2020, the UK government announced it would begin talks with EDF Energy to enable investment in the planned Sizewell C nuclear power plant project. The latest government statement confirmed these negotiations are ongoing.<\/p>\n\n<p class=\"wp-block-paragraph\">Other measures announced include GBP6.1 billion to back the Transport Decarbonisation Plan, boosting the number of zero-emission vehicles, helping to develop greener planes and ships, and encouraging more trips by bus, bicycle and foot.\u00a0Sunak also confirmed funding for the GBP1 billion Net Zero Innovation Portfolio &#8211; as announced in Prime Minister Boris Johnson&#8217;s\u00a0<em>Ten Point Plan for a Green Industrial Revolution<\/em>, released in November 2020 &#8211; which is accelerating near-to-market low-carbon technology innovations and the aligned GBP385 million Advanced Nuclear Fund, which is developing the next generation of small and advanced modular reactor technologies.<\/p>\n\n<p class=\"wp-block-paragraph\">The announcement was welcomed by UK trade body the Nuclear Industry Association. Tom Greatrex, the organisation&#8217;s chief executive said: &#8220;This is a big vote of confidence in nuclear and a historic step forward for nuclear investment, with new money for a large-scale project, alongside money for modular reactors to enable future projects.<\/p>\n\n<p class=\"wp-block-paragraph\">&#8220;We can&#8217;t get to net-zero without investing in new nuclear capacity, and this is a clear signal from government to investors that it sees nuclear as essential to our clean energy transition. This is not only an investment in a greener future, but also in jobs and skills right across the country.&#8221;<\/p>\n\n<p class=\"wp-block-paragraph\">On 26 October, the government introduced the\u00a0<em>Nuclear Energy (Financing) Bill<\/em>, which will use the Regulated Asset Base model to fund future nuclear power stations in the UK. The new funding model is expected to attract a wider range of private investment into new nuclear power projects, cutting the cost of financing them and reducing the cost to consumers.<\/p>\n\n<p class=\"wp-block-paragraph\">The Sizewell C Consortium &#8211; a group of over 200 leading UK nuclear suppliers &#8211; also welcomed that announcement. Cameron Gilmour, spokesperson for the consortium, said: &#8220;The government has made a welcome and significant step forward in addressing our future energy needs, by outlining a framework for investment for nuclear in the UK. Sizewell C is a project that can start construction in this parliament &#8211; delivering jobs and apprenticeships, and much needed certainty for thousands of suppliers up and down the country.&#8221;<\/p>\n\n<p class=\"wp-block-paragraph\">Sizewell C will be a near replica of Hinkley Point C (HPC), which EDF Energy is building in Somerset and, like HPC, it will be able to supply 7% of the UK&#8217;s electricity once it enters commercial operation. At about GBP18 billion (USD22 billion), EDF Energy has said that Sizewell C will be cheaper to build than HPC, the estimated cost of which is between GBP21.5 billion and GBP22.5 billion.<\/p>\n\n<p class=\"wp-block-paragraph\">Under a strategic investment agreement signed in October 2016, China General Nuclear agreed to take a 33.5% stake in the HPC project, as well as jointly develop new nuclear power plants at Sizewell and at Bradwell, which is in Essex. The HPC and Sizewell C plants will be based on France&#8217;s EPR reactor technology, while the Bradwell plant will feature the HPR1000 (Hualong One) design.<\/p>\n\n<p class=\"wp-block-paragraph\">Researched and written by World Nuclear News<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"<p>The UK government has announced up to GBP1.7 billion (USD2.3 billion) in funding for a large-scale nuclear power plant in its autumn budget and spending review. It said it is in &#8220;active negotiations&#8221; with EDF over the Sizewell C project in Suffolk. The announcement comes days after the government introduced legislation for funding future nuclear<a class=\"more-link\" href=\"https:\/\/cornixs.com\/de\/2021\/11\/07\/uk-government-earmarks-funds-for-progressing-nuclear-project\/\"><span class=\"screen-reader-text\">&#8220;UK government earmarks funds for progressing\u00a0nuclear project&#8221;<\/span> weiterlesen<\/a><\/p>","protected":false},"author":213378692,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_wpcom_ai_launchpad_first_post":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"{title}\n\n{excerpt}\n\n{url}","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false,"jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-602","post","type-post","status-publish","format-standard","hentry","category-uncategorized","entry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>UK government earmarks funds for progressing\u00a0nuclear project - Cornixs GmbH<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cornixs.com\/de\/2021\/11\/07\/uk-government-earmarks-funds-for-progressing-nuclear-project\/\" \/>\n<meta property=\"og:locale\" content=\"de_DE\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UK government earmarks funds for progressing\u00a0nuclear project - Cornixs GmbH\" \/>\n<meta property=\"og:description\" content=\"The UK government has announced up to GBP1.7 billion (USD2.3 billion) in funding for a large-scale nuclear power plant in its autumn budget and spending review. 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It said it is in &#8220;active negotiations&#8221; with EDF over the Sizewell C project in Suffolk. 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