The approaching decade will be critical for the UK’s nuclear supply chain if it is to increase capacity and capability to meet the demands of the new nuclear build programme and the industry’s developers. This is according to a new report from EY, Creating confident investors and competitive advantage for the UK nuclear supply chain. The report is built on interviews with leaders across the nuclear industry on how to capture the opportunity of a new nuclear power build programme, in the UK and internationally, to deliver a world-class UK supply chain capability. The nuclear new build programme offers a significant opportunity for the UK supply chain to demonstrate capability and realise economic benefit. The Government estimates investment of more than £45bn will be needed to develop the first three nuclear power plants at Hinkley Point C, Wylfa Newydd and Moorside. Furthermore, the potential for new opportunities, such as SMRs (Small Modular Reactors) or international nuclear activities, provide an opportunity to upskill and increase the capacity of the UK nuclear supply chain. Chris Lewis, EY’s UK & Ireland Infrastructure Lead, commented: “This report calls for clarity on the need for nuclear power in our energy mix, and commitment between Government and Industry to invest in the UK capability. For the UK’s nuclear supply chain to capitalise on these opportunities, the industry needs to provide the pivot from an uncertain outlook. We need a model where the supply chain has the confidence from a clear pipeline of new build contracts, a unified industry championing the UK’s expertise and credentials, and investors are motivated and clear on the domestic and export opportunities.”
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Britain’s nuclear sector needs the government and industry to commit to the country’s nuclear capability in the critical next decade, a new report suggests. EY will publish a report today saying the government estimates investment of more than £45bn will be needed to develop the first three new nuclear power plants: Hinkley Point C, Wylfa Newydd and Moorside.
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