UK Minister forecasts major nuclear expansion over next 20 years

17th March 2017

By: Keith Campbell

Creamer Media Senior Deputy Editor

     

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It is estimated that, over the next 20 years, more than £930-billion will be invested in expanding civil nuclear energy capacity worldwide.

This was affirmed by UK Secretary of State for International Trade Dr Liam Fox in his keynote address at the Civil Nuclear Showcase 2017, in London, at the end of last month. He also pointed out that more than 20 nuclear markets were represented at the showcase.

“Nuclear power is an industry with a truly global reach,” he highlighted. “As we speak, there are 447 commercial reactors operating in 31 countries across the world, meeting around 11% of global electricity demand. Yet this is only the beginning – there are currently another 60 reactors under construction, and plans for many more.”

The UK alone had a highly skilled and qualified nuclear workforce of more than 65 000, and the country’s nuclear new build programme was expected to increase the nuclear workforce by at least another 40 000. “The nuclear industry is a key wealth creator in the UK, supporting tens of thousands of jobs and raising our international profile,” he stated.

Fox stressed the role of the UK in the global nuclear industry; the country, he said, “has a pivotal role to play in the future of nuclear power”. This took the form of both the export of British nuclear expertise and the market the UK was providing for the global industry through its nuclear new build programme.

“With no domestic reactor vendor of our own, UK companies are uniquely placed to offer impartial support, advice and assistance to our international partners,” he noted. “Already, nuclear industries across the world, from China to the Czech republic, are seeing the benefits of our industry-leading support.”

British companies were also exporting their expertise in nuclear decommissioning and waste management. The UK had a large-scale nuclear decommissioning programme with a value of £3.2-billion a year, and world-leading research and development centres. He highlighted that two UK enterprises have been involved in the clean-up operations at Japan’s stricken Fukushima Dai-ichi nuclear power plant (which had been severely damaged by a tsunami, following a devastating earthquake in 2011).

Then there are the investment opportunities presented by Britain’s new nuclear programme. “Our domestic market is flourishing, marked by last September’s approval of Hinkley Point C – the first new nuclear power station in this country for a generation,” he affirmed. “And . . . plans are also coming together for subsequent new domestic projects involving [nuclear companies] Horizon, NuGen and EDF and CGN.”

Horizon Nuclear Power is a wholly owned British subsidiary of Japan’s Hitachi, which is planning to develop at least 5 400 MW of capacity from new nuclear power stations at two sites in Britain. NuGen is a British joint venture between Toshiba, of Japan, and France’s ENGIE –formerly GDF Suez – which plans a new 3 800 MW nuclear power station in north-west England; although Toshiba, which holds 60% of NuGen, last month stated it would reduce its exposure to nuclear construction projects outside Japan, it subsequently reaffirmed its commitment to NuGen. EDF is the French national electricity utility, which took over the reactor business of Areva last year – Areva is now a nuclear fuel cycle company, although it retains a 15% share in what is now EDF’s reactor-design and construction subsidiary. CGN is the China General Nuclear Power Group. EDF and CGN are partners in the Hinkley Point C programme; they are also partners on the Sizewell and Bradwell new nuclear power projects, with CGN taking the lead in the latter.

“I must touch on the European Union (EU),” stated Fox. “We may have voted to leave the EU, but we are not withdrawing from the world. . . . It is true that, in leaving the European Union, Britain will also be leaving Euratom (an agency of the European Commission). “Though our exact relationship with Euratom will be subject to negotiations with our EU partners, I want to reassure you our withdrawal from the Euratom Treaty will in no way diminish our nuclear ambitions. “This government is firmly committed to delivering a world-leading nuclear programme in close collaboration with our international counterparts. “There will be challenges ahead, but my department will support the nuclear industry every step of the way.”

Edited by Martin Zhuwakinyu
Creamer Media Senior Deputy Editor

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