United Kingdom To Fund Nuclear Power Stations

Advisor December 7, 2017

The use of nuclear power stations has remained a controversial topic because of the destruction it can bring to our society and environment. It can be remembered that the Fukushima prefecture in Japan experienced a meltdown after the catastrophe of earthquake and tsunami in 2011. Aside from the destructive effects it can bring to the environment, the nuclear radiation emitted from these nuclear power plants is also lethal to human beings with harmful effects they emit, having most countries adamant about using nuclear power plants.

However, we cannot deny that it also generates tremendous energy that can be used to supply our electricity. We also note how these countries that use nuclear power plants are some of the most progressive and richest countries in the world as they’re able to boom their industrialization, effectively boosting the economy. It seems the United Kingdom is now also stepping up the game as they’re going to fund nuclear power stations.

The UK Government is Willing to Spend an Astounding £100m to become the pioneering leader Of Technology and Become a Source of Clean Power

EDF Building in Somerset Is Expected to Receive Funding from the UK Government

The Ministry backed the government’s motion and is expected to spend millions of pounds this week. This latest action is an attempt to bring the UK at the forefront of technology and to become a reliable source of clean power. U.S host Rolls-Royce, as well as other Chinese companies, have been looking forward to this realization ever since George Osborne had pledged to give £250m two years ago. The energy minister Richard Harrington is scheduled to announce the news officially as he attends an embryonic technology on Thursday. The initial funding for the said nuclear power station is expected to go around £100m.

The said amount is expecting to fund small modular reactors who have been contributing around a tenth of the country’s large conventional nuclear power station. A notable example of this is the EDF Building in Somerset. The pitchers claimed that these small nuclear power stations would generate low carbon power. This recent movement from the UK government was a realization of Royce’s dream. It can be remembered that Royce has been proposing the Department for Business, Energy and Industrial Strategy (BEIS) to approve its SMR design. The proponents of the design are confident that this would also generate thousands of jobs for the UK. This would also become a vital part of boosting the country’s infrastructure.

While the Industry Welcomes the Funding, They Are Hesitant Whether or Not the Funding Could Make Any Difference

While the gracious funding amount given to the industry was definitely welcomed, the industry experts doubt whether the funding would make any difference to the industry. They claimed that they’ve been angered by the government’s indecisiveness whether or not to throw all its weight to the said technology.

Industry Experts Are Quite Wary of the Government’s Funding

A researcher at the University of London is also hesitant whether the SMR will still be deemed effective the moment it goes out to the market. Given the current steep reduction in energy costs, will it still be able to sustain and be competitive compared to renewable energy? Professor Paul Dorfman is worried that this multi-million SMR investment would just end up in vain. He didn’t want to see another failed energy project as much as possible again, especially after what happened with wind farms.

The Government, However, Reiterated that They Only Arrived at a Decision Now Because the SMR Design Has Finally Been Approved

Proposed SMR Design by Rolls Royce_files

The government understood the hostility expressed by the industry experts. However, they claim that they’ve also done their part. They’ve been reminding the developers constantly that support and funding for nuclear power industry will be given if they can prove that their SMR design is affordable and competitive compared to other rivaling energy sources existed.

After the approval of the latest SMR design, the government expected that the design will be ready for deployment around 2030. GMB national secretary for energy, Justin Bowden, also warrants that the technology that will be used in these nuclear power stations will be backed by the government. He also said that nuclear building will become a vital part of producing an energy that is safe, clean, reliable, and secure.