A bold leap for UK nuclear

The UK’s nuclear sector is on the verge of a major transformation, with 11 proposed projects expected to require a CAPEX of US$140bn. This ambitious pipeline highlights the urgent need to accelerate developments in the sector – especially given that only one project is currently under construction in the UK, Hinkley C, and it has been beset by delays. And with its start date pushed back by up to another four years, costs could now soar to £46bn. As the UK aims to boost its nuclear capabilities, including small modular reactors (SMRs), it is crucial that supply chain bottlenecks are addressed and consistent policy support is maintained.

High investment confidence

The nuclear sector’s viability is underscored by its strong final investment decision (FID) rates. EIC data reveals that new-build nuclear projects boast a 39% FID rate – significantly higher than other clean technologies, such as fixed offshore wind at 5% and hydrogen at 4%. This high FID rate reflects robust investor confidence and the maturity of nuclear technology as a reliable energy source.

More projects needed for the supply chain

However, this high FID rate stems from a smaller number of proposed projects compared to other industries. As a result, nuclear supply chain growth depends on expanding the number of projects and ensuring they reach FID. And even with relatively high FID rates, there is still a need for a more sustained deployment of projects to keep the supply chain busy and thus maintain its health. Such continuous activity will help the supply chain further develop its expertise and capacity to tackle projects globally.

Improving project management and regulatory processes

In the UK, it is crucial that specific challenges are addressed and opportunities seized if the nuclear sector is to advance. The delays at Hinkley Point C highlight the urgent need for better project management and more streamlined regulatory processes. Future projects must not face similar setbacks if investor confidence is to be maintained and costs controlled.

Integrating energy sectors

Moreover, integrating the nuclear supply chain with other energy sectors could lead to greater efficiencies and foster innovation. For example, synchronising nuclear projects with advances in renewable energy technologies could create a more resilient and sustainable energy infrastructure. The UK government must adopt a more holistic approach to energy policy, ensuring that nuclear energy is part of a broader strategy for achieving net-zero emissions.

The promise of SMRs

SMRs present a significant opportunity for the UK. With their potential for quicker deployment, lower upfront costs, and enhanced safety features compared to traditional nuclear reactors, SMRs could revolutionise the industry. By investing in SMR technology and supporting its development through research and subsidies, the UK can position itself as a leader in the next generation of nuclear power.

By Mahmoud Habboush, Communications Adviser, EIC

EIC members speak out

A nuclear workforce fit for the future

Andrew Hockey, Engineering Construction Industry Training Board (ECITB) Chief Executive

The ECITB’s Labour Forecasting Tool predicts that around 13,000 additional workers could be needed in the nuclear industry by 2028 in critical skills areas such as welding, project controls and mechanical engineers.

As the statutory skills body for the civil nuclear sector, our Leading Industry Learning Strategy wants to ensure that the industry has the skilled workers needed to meet this demand. Aligned with the National Nuclear Strategic Plan for Skills (NNSPS), it focuses on expanding the workforce and closing skills gaps. The ECITB fed into this new 10-year plan and recognises that training and developing new entrants will be a priority.

Our initiatives include the Project Controls Accelerator pilot programme, which targets individuals with transferable skills considering a career change, and the collaborative and co-funded Work Ready Programme, which creates a pipeline of new entrants across the UK. The latter recently helped a cohort in Cumbria, including long-term unemployed individuals, to gain employment at the Sellafield nuclear site.

The NNSPS also includes a graduate sponsorship scheme and the launch of regional hubs to ensure the right skills are in place nationwide. Destination Nuclear – a first sector-wide initiative to ensure careers in the sector are more visible and attractive – is also part of the plan. The campaign aims to show the wealth of opportunities within the sector, with more than 4,500 different positions having already been viewed on its website.

The UK aims to grow nuclear energy capacity to 24GW by 2050, with a mix of traditional large-scale power plants and SMRs

Hinkley Point C Nuclear Power Plant US$58.4bn

Startup: 2030
Operator: EDF Energy
Project stage: Under construction

BWRX-300 Small Modular Reactor Hub US$1.5bn

Startup: 2033
Operator: GE Power
Project stage: Conceptual design

Fusion Demonstration Plant US$400m

Startup: Q1 2027
Operator: General Fusion
Project stage: Pending construction

Hartlepool SMR Power Plant US$4.8bn

Startup: 2030
Operator: X-Energy, Cavendish Nuclear
Project stage: Planning

Lead-cooled Fast Neutron (LFR-AS-200) Reactor Project US$10bn

Startup: 2033
Operator: newcleo Ltd
Project stage: Planning

North Teesside SMR Plant US$12bn

Startup: 2030
Operator: Community Nuclear Power, Westinghouse
Project stage: Planning

Rolls-Royce Small Modular Reactor Hub US$3.2bn

Startup: 2033
Operator: Rolls-Royce
Project stage: Planning

Sizewell C Nuclear Power Plant US$28.1bn

Startup: 2034
Operator: EDF Energy
Project stage: Pending construction

SMR-160 Small Reactor Hub US$500m

Startup: 2033
Operator: Holtec International
Project stage: Planning

STEP Nuclear Fusion Plant US$10bn

Startup: 2040
Operator: UK Atomic Energy Authority
Project stage: Detailed engineering

Wylfa Newydd Nuclear Power Plant US$17bn

Startup: 2036
Operator: The UK Government
Project stage: Planning

Wylfa Nuclear Hybrid Plant US$7.5bn

Startup: 2035
Operator: NuScale
Project stage: Planning

Image credit | iStock