Nuclear Sector Deal

On 27 June 2018, the Government released the details of the Nuclear Sector Deal. The Government press release summarised the commitments for the industry:

1. new £200 million Nuclear Sector Deal to secure the UK’s diverse energy mix and drive down the costs of nuclear energy meaning cheaper energy bills for customers
2. includes £32 million boost from government and industry to kick-start new advanced manufacturing programme including R&D investment to develop potential world-leading nuclear technologies like advanced modular reactors
3. a commitment to increasing gender diversity with a target of 40% women working in the civil nuclear sector by 2030[1]

On 28 June 2018, the Government issued a written statement giving details of the Deal and summarising the proposals:

The Government has worked closely with the sector champion Lord Hutton and industry leads from the Nuclear Industry Council to develop a number of proposals by 2030, which include:

1. 30 per cent cost reduction in the cost of new build projects
2. Savings of 20 per cent in the cost of decommissioning compared with current estimates
3. Women to make up 40 per cent of the nuclear sector by 2030
4. Win up to £2bn domestic and international contracts

[1] Gov.uk, New deal with industry to secure UK civil nuclear futre and drive down cost of energy for customers, 27 June 2018