The nuclear sector has set out a roadmap to cut-price nuclear stations that could pave the way for Wylfa Newydd to get built. A second Anglesey nuclear plant remains on hold due to a failure to agree funding terms between UK Government and backers Hitachi. UK Government will deliver a planning decision on the scheme this month but the approx £12bn to £14bn potential cost also remains an issue. Now a new report, from a cross-industry team, working as part of the Government-backed Nuclear Sector Deal, has set out the key factors to reduce risk and bring down nuclear costs by 30% by 2030. These factors include rigorous pre-construction planning, with simplicity of design and construction methodology, repeating designs across multiple stations, and building up and transferring a skilled and experienced workforce to new projects. It highlights how the rector tech behind Wylfa Newydd has been used four times in Japan with the most recent station build taking just 37 months. The report further identifies how a new financing model that controls construction risk will also bring down consumer costs by mobilising a wider pool of investors and cutting the cost of capital. Humphrey Cadoux-Hudson, Chair of the Cost Reduction Working Group of the Nuclear Sector Deal, said: “I am very pleased to say that the nuclear new build cost reduction workstream has made great progress, and our report clearly shows it’s possible to deliver a cost-effective programme of new nuclear power stations in the UK.
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