UNITED KINGDOM | PAVILION
with EDF over financing for a planned EPR at Sizewell C at the start of the year. Now it has published legislation that will
allow future nuclear plants to be funded under a Regulated Asset Base (RAB) model, which reduces the cost of financing by requiring consumers to start making payments immediately construction starts, and to take much of the construction risk. If the legislation has a smooth passage into law the industry may now get its wish to follow Hinkley Point C – now under construction – with Sizewell C. EDF argues that the ability to transfer expert teams who have already worked on two units at Hinkley will reduce the cost of Sizewell C further. For industry, the change opens the possibility of a pipeline of work that will enable companies to invest in staff and equipment to supply a growing industry. The government has committed a total of
£505 million in funding to the nuclear initiative, which calls for a mix of large plants, SMRs and other emerging technologies.
The Department for International Trade promotes and finances
international trade and investment, and champions free trade. It is responsible for free trade agreements and reduced market access barriers, attracting and retaining inward investment, facilitating UK exports and championing the international trading system.
Nuclear power is crucial to strengthening energy security and reducing our reliance on volatile fossil
fuels. I’ve announced plans for a new finance model to encourage private investment and save consumers £30 billion on every large-scale nuclear project.”
Secretary of State Kwasi Kwarteng MP
The EIC hosts the UK Pavilion. The trade association provides dedicated services to help members understand, identify and pursue business opportunities
globally, with a membership of over 650 companies who deliver goods and services to the energy industries worldwide.
Darchem Engineering’s nuclear capabilities include high integrity
thermal insulation systems, passive fire protection systems, modular pool liners and impact energy absorbers.
Vinci Technology Centre says: “Meet with us to discuss complex
engineering challenges, specialist testing, construction trials, concrete, structural and corrosion surveys.” Since helping develop the first generation of UK nuclear power stations it has worked in generation, decommissioning and new nuclear areas.
£210 million
New government grant to develop Rolls Royce SMR
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