Daily Mail

Nuclear to be reclassifi­ed as ‘green’ to boost grants

- By David Churchill Chief Political Correspond­ent

NUCLEAR energy is to be reclassifi­ed as ‘environmen­tally sustainabl­e’ so it has the same access to investment incentives as renewables.

the move is aimed at ensuring a quarter of the country’s electricit­y comes from nuclear by 2050.

A great British nuclear scheme will be launched to ‘ bring down costs’ and ‘provide opportunit­ies’ by helping to build production sites.

It is part of a strategy to ensure the UK is not overly reliant on imports for energy production following the Russian invasion of Ukraine.

Chancellor Jeremy Hunt also said he wanted to invest up to £20billion to help develop carbon capture usage and storage technologi­es.

these are designed to suck up greenhouse gases emitted by major polluting industries such as steel, glass and power.

the Chancellor said he hoped the money would help a sector that could

‘A greatest hits compilatio­n’

support up to 50,000 jobs. But none of the cash will come before the next election, after which Mr Hunt may no longer be in office.

outlining his Budget, the Chancellor told the Commons: ‘We are world leaders in renewable energy so today I want to develop another plank of our green economy, carbon capture usage and storage.

‘to encourage private sector investment into our nuclear programme, I confirm that subject to consultati­on nuclear power will be classed as “environmen­tally sustainabl­e” in our green taxonomy, giving it access to the same investment incentives as renewable energy. Alongside that will come more public investment.’

Mr Hunt also launched a competitio­n for small modular reactors, which will be funded if the technology is proven to be viable.

And he reiterated an announceme­nt made in the autumn to invest £700million in the sizewell C nuclear power station planned in suffolk.

But Professor Adrian Bull, of the Dalton nuclear Institute at the University of Manchester, said: ‘the Chancellor’s words on nuclear give a

positive message, but it’s more like a greatest hits compilatio­n from the past, rather than anything new.

‘Confirming nuclear’s environmen­tal credential­s will certainly help attract investment – but it’s only stating the obvious. nuclear is as low carbon as renewables and should always have been treated that way.

‘He’s announced great British nuclear – which is about the fourth time it’s been announced.

‘What we need is to see it actually come into being, and to see a clear plan of what it will do.’

tory chairman of the Commons Welsh affairs committee, stephen Crabb, said he hoped it could lead to nuclear sites in the principali­ty such as Wylfa on the Isle of Anglesey.

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