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Alternative Routes to Market for New Nuclear Projects

The Department for Energy Security and Net Zero is developing alternative routes to market for new nuclear projects, including advanced nuclear technologies, to diversify financing mechanisms beyond traditional approaches. This includes consultation on financial support for nuclear lifetime extensions and third-party liability frameworks for advanced reactor designs. The policy is active and aims to enable new nuclear deployment through flexible market access and investment structures.

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12 Apr 2024 | Consultation (closed) Department for Energy Security and Net Zero linked

consultation closed

This consultation seeks to examine what steps government can take to enable different routes to market for new advanced nuclear technologies. Government sees great national opportunities in the nuclear sector, and we are seeking responses to support us in developing …

▤ View document · ↗ GOV.UK
11 Jan 2024 | Consultation (closed) Department for Energy Security and Net Zero linked

consultation opened

This consultation seeks to examine what steps government can take to enable different routes to market for new advanced nuclear technologies. Government sees great national opportunities in the nuclear sector, and we are seeking responses to support us in developing …

▤ View document · ↗ GOV.UK
31 Jul 2023 | Government response linked

As a matter of strategic planning, the Government and the sector should, at a time of expansion, deliberately increase the permeability of the sector to other commercial, engineering and scientific sectors.

As a matter of strategic planning, the Government and the sector should, at a time of expansion, deliberately increase the permeability of the sector to other commercial, engineering and scientific sectors. Type: conclusion | Number: 35 | Paragraph: 171 | …

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31 Jul 2023 | Government response linked

So far, the Government has not published financial figures which allow the cost of this risk transfer to be known. The Government must publish figures, before signing contracts for new gigawatt-scale nuclear, which allow a proper assessment of value for money to be made, including setting out the level and potential cost of construction risk to be borne by the consumer or taxpayer.

So far, the Government has not published financial figures which allow the cost of this risk transfer to be known. The Government must publish figures, before signing contracts for new gigawatt-scale nuclear, which allow a proper assessment of value for …

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31 Jul 2023 | Government response linked

It may be the case that the size of capital outlay means that private investors will not repeat a CfD contract for new nuclear, whatever the price. But the lack of alternative choices should not mean that any terms will be acceptable for a RAB financed plant. The Government should make, and disclose, its best estimate of the value of the risk that would be taken on by the public, and a clear plan of how those risks can be managed through incentives during the development, construction and ope...

It may be the case that the size of capital outlay means that private investors will not repeat a CfD contract for new nuclear, whatever the price. But the lack of alternative choices should not mean that any terms will …

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31 Jul 2023 | Government response linked

If a single supplier of SMRs were to be available, either through Government choice or following the Generic Design Assessment process, the CfD auction model will not be suitable. As part of a clear and specific strategy for SMRs, the Government should come to a view quickly on what financial model would be available for the initial deployment and communicate this clearly to developers.

If a single supplier of SMRs were to be available, either through Government choice or following the Generic Design Assessment process, the CfD auction model will not be suitable. As part of a clear and specific strategy for SMRs, the …

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31 Jul 2023 | Government response linked

We welcome the proposed inclusion of nuclear energy generation in the UK Green Taxonomy as it reflects the low-carbon contribution of nuclear power and may make new building projects more attractive to private investors as with other low-carbon energy generators.

We welcome the proposed inclusion of nuclear energy generation in the UK Green Taxonomy as it reflects the low-carbon contribution of nuclear power and may make new building projects more attractive to private investors as with other low-carbon energy generators. …

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31 Jul 2023 | Government response linked

The Office for Nuclear Regulation (ONR) Generic Design Assessment’s (GDA) goal- based approach is well regarded internationally and is intended to be adaptable for any new technology. We welcome the work that the ONR has done to modify the GDA to allow more flexibility for new reactor designs that seek to enter the UK market.

The Office for Nuclear Regulation (ONR) Generic Design Assessment’s (GDA) goal- based approach is well regarded internationally and is intended to be adaptable for any new technology. We welcome the work that the ONR has done to modify the GDA …

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31 Jul 2023 | Government response linked

Some witnesses are concerned that the GDA has capacity constraints and is a lengthy and expensive process given that there are no site-specific guarantees afterwards. Whilst acknowledging the need for UK sovereignty over regulations, witnesses pointed out the considerable overlap of the technical approval process for new reactors between established nuclear nations.

Some witnesses are concerned that the GDA has capacity constraints and is a lengthy and expensive process given that there are no site-specific guarantees afterwards. Whilst acknowledging the need for UK sovereignty over regulations, witnesses pointed out the considerable overlap …

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31 Jul 2023 | Government response linked

The Government should consider how it could reduce the GDA application timelines and the required resources through international collaborations between regulators, and should provide access to pre-engagement for new nuclear developers prior to Delivering nuclear power 107 entering the GDA. The ONR should examine ways to recognize, in whole or part, safety approvals for mature reactor designs granted by partner countries with similarly high standards to capitalise on work previously done.

The Government should consider how it could reduce the GDA application timelines and the required resources through international collaborations between regulators, and should provide access to pre-engagement for new nuclear developers prior to Delivering nuclear power 107 entering the GDA. …

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31 Jul 2023 | Government response linked

Given that the Minister envisaged a three-year timeline to develop, consult upon, and designate a new nuclear National Policy Statement (NPS), and that as of 18 July 2023 the consultation stage had not even started, we are concerned that there may be a creeping delay in updating the NPS for new nuclear. This would not only send the wrong signal to a sector poised for investment but could cause delays in deployment. New nuclear developers require knowledge of where a reactor can be built if th...

Given that the Minister envisaged a three-year timeline to develop, consult upon, and designate a new nuclear National Policy Statement (NPS), and that as of 18 July 2023 the consultation stage had not even started, we are concerned that there …

▤ View document · ↗ GOV.UK