UK review backs aid for ‘mini N-plants’

BRITAIN should offer developers of mini nuclear plants subsidies similar to those made available to the offshore wind industry, an independent review commissioned by the government said yesterday.

Britain needs to invest in new power generating capacity to replace aging coal and nuclear plants that are due to close in the 2020s, and is seeking more low carbon options to help meet its emission reduction targets.

The government has been investigating whether mini nuclear plans — so called small modular reactors — could offer a solution, and whether the industry could help boost much needed exports as Britain leaves the European Union.

The government “should establish an advanced manufacturing supply chain initiative (as it did with offshore wind) to bring forward existing and new manufacturing capability,” said the report by the Expert Finance Working Group on Small Nuclear Reactors.

Government support for offshore wind has enabled that industry to drive down costs, and reduce subsidies.

The report also said the nascent SMR industry could provide a boost for British manufacturing and exports.

“There is a real short-term opportunity for the UK as supply chains are yet to be established for small nuclear projects (unlike large nuclear with established supply chains largely outside the UK),” the report said.