Nuclear 2024 conference: Energy Secretary's speech

Secretary of State for Energy Security and Net Zero, Ed Miliband, spoke at the Nuclear Industry Association's Nuclear 2024 conference.

Can I just start by saying what a pleasure it is to be at this conference.

I want to start by thanking Tom Greatrex.

I also want to just pay really special thanks to your outgoing chair and my dear friend Tim Stone, who I think has been chair for 6 years – but has been around a lot longer than that. He has taught me so much over the years, and Tim you are such a  brilliant advocate for clean energy infrastructure, you're a brilliant source of expertise, and I know this audience will want to show you appreciation for everything that you've done.

And I also want to put on record my thanks to all of you, the people that work in this great industry.

My starting point is that you have got a crucial role to play in powering Britain's clean energy future.

This industry offers huge opportunities not just to deliver energy security and climate security, but economic security for workers and communities across our country.

And I am here to say that alongside Lord Hunt, Philip Hunt, our nuclear minister, I am determined to work in partnership with you to realise this potential.

This is the argument I want to make today, and I am conscious I'm standing between you and dinner tonight:

First, we are entering an age of clean electricity as the foundation of our energy system as never before.

This is the linchpin of a net zero economy.

Our goal of clean power by 2030 is a recognition of this but merely the first staging post on that journey.

Second, in that context, we need all the power sources at our disposal, and nuclear has an essential role to play in the future age of clean electricity.

Third, despite this being a time of immense challenge for the public finances, we are determined to drive forward nuclear through both public and private investment.

Fourth, we should be enthusiastic about nuclear not just for what it offers for our energy system but what it offers in terms of jobs, investment, industry and exports. And that's the argument I want to lay out to you this afternoon.

So my starting point as the Secretary of State is the government's clean energy superpower mission, which the prime minister was reiterating this morning, one of his five driving missions.

It has two pillars—to achieve a clean power system by 2030 and to accelerate to net zero across the wider economy.

The foundation of our mission is a recognition that what was called the trilemma between energy security, consumer affordability and sustainability has in our view disintegrated.

And this was brought into sharp relief by Russia's invasion of Ukraine.

That event and the cost of living crisis that followed showed how exposed we were as a country due to our reliance on fossil fuels.

And of course, that reliance does not give us sustainability.

But as it turned out, it does not guarantee us security or affordability either.

That is why we see such an imperative – to drive towards clean, homegrown electricity – not just for the climate reasons that might have been the traditional reasons, but for energy security and affordability reasons.

And the truth as I said in my introduction is that 2030 clean power is merely the first part of what is required.

The same lesson of our exposure to international fossil fuel markets applies across the economy—to transport, heating and industry.

So, on grounds of energy security, clean electricity is the fundamental rock on which the future will be built.

And indeed, as has traditionally been the case for some period, on grounds of climate too.

We know that electrification will be the backbone of decarbonisation.

Our projections suggest electricity demand could increase by 50% by 2035.

And then increase by 100% by 2050 compared to where we are today.

So ‘electrify everything you can' is a good maxim for the future.

That's my first point.

The second part of my remarks on the role of nuclear.

I'm in the unusual position – this is where Tim and I first met – of being a cabinet minister back in a job I first did 16 years ago.

Maybe you should think back to what you were doing 16 years ago… I'd basically recommend it as you can do what you did before but better hopefully.

In 2009 I identified the 8 sites for new nuclear recognised in the current planning framework.

Back then, I was firmly of the view that we needed a new generation of nuclear for Britain.

It's hard to remember – some people in this room were at school - but in those days this was a relatively controversial position, with parts of the environmental movement deeply opposed to nuclear.

That is still true of some parts of the environmental movement, but I do think the debate has shifted.

More people now recognise that whatever the challenges of nuclear, they pale in comparison to the energy security and climate threats we face.

My view – in case you're wondering - hasn't changed; I feel it even more strongly than I did back then.

So today, when it comes to homegrown, clean energy, this government's approach is simple:

We need nuclear, wind, solar, batteries, tidal stream, hydrogen, carbon capture.

We need all of the above.

And nuclear has a particular role in providing clean, stable and reliable power.

So that's the context, and if that's the context and our underlying philosophy, how do we make it happen?

We have a different view from our predecessors about the role of government in the energy system.

We think that having a proper plan, with a clear direction of travel, is essential to give industry the certainty and stability you need to invest.

That's why earlier this year we commissioned the NESO, National Energy System Operator, to provide advice on the pathways to clean power.

The NESO report came out in the last couple of months and was clear that nuclear will play an important role in achieving clean power by 2030 and crucially beyond that, obviously, too.

In the context of 2030, I am absolutely delighted that earlier this week EDF announced that Heysham 1 and Hartlepool will be extended out to 2027 and Heysham 2 and Torness out to 2030.

These four stations power millions of homes and support thousands of good jobs around the country.

On our view of the path to 2030, we will be publishing our response to the NESO advice shortly.

But I want to acknowledge at this conference, given the long lead times of new nuclear, it is the period beyond 2030 which will also define the future.

So building on our 2030 plan and the NESO Strategic Spatial Energy Plan, we will set out plans for the energy system into the 2030s and beyond.

But I want to make this point, I feel this strongly about my time in government previously, long-term plans are important, but short-term delivery matters as much if not more.

That is why since coming into office, we have rolled up our sleeves to deliver on new nuclear.

The first order of business is working with EDF to get Hinkley Point C built.

I have had the privilege of going to the Hinkley site and I've truly been overwhelmed and impressed with the scale, co-ordination and energy at what is one of the largest construction sites in Europe.

We all know the range of dates for when Hinkley will be up and running and we will be working closely with EDF to help deliver at the earliest opportunity.

Next obviously comes Sizewell C and SMRs.

Now it will be obvious to this audience that we are operating in the context of deep challenges to the public finances.

From my perspective and that of the government new nuclear offers big returns for the country.

The economic and energy security case as I've said for new nuclear is very strong.

That is why I am pleased that in the budget, the Chancellor confirmed £2.7bn of funding to continue the development of Sizewell C next year.

This is a very important step forward.

There are obviously already hundreds of workers on the Sizewell site.

The equity and debt raise process will shortly move to its final stages.

As set out in the budget documentation, a Final Investment Decision on whether to proceed with the project will be taken at the Spending Review.

Next comes the SMR competition.

This obviously offers a massive industrial opportunity for Britain.

That's why the work of Great British Nuclear, which will remain an independent sister company to Great British Energy, is so important for the country.

I do want to put on record my thanks to Simon Bowen, Gwen Parry-Jones and the Great British Nuclear team for all their work so far, and we are doing absolutely everything we can to support them.

We confirmed in the budget that Great British Nuclear has started contract negotiations with the four companies shortlisted in the SMR competition, and final decisions will be made in Spring.

Meanwhile, Advanced Modular Reactors could provide clean energy for some of the most difficult to decarbonise sectors.

That's why at COP29 we signed an agreement to drive international collaboration on cutting-edge nuclear technologies alongside the US.

Indeed, coming back from COP spending time talking to international colleagues, I am constantly struck by the excitement there is around SMRs and AMRs in the international community – that should give us real encouragement.

This interest has been supercharged by the rise of AI.

And we have watched recent deals by tech firms in the US with interest.

Of course, it's early days but we should be open to the potential of SMRs to power the fourth industrial revolution, just as coal powered the first.

My message is clear: if you want to build a nuclear project in Britain, my door is open.

My department is listening.

We want all your ideas for projects that can work and provide value for money.

Indeed, we are committed to working with you to address the obstacles to investment right across the nuclear industry.

So, on funding, we are exploring how government can help private developers bring advanced nuclear projects to market.

On planning, we will be consulting on a new nuclear planning framework and siting policy next year.

On grid, we are reforming the connections queue and working to get network infrastructure built quicker. That's something really important in our clean power action plan which will be out shortly.

And on skills, government is working with industry to deliver the Nuclear Skills Plan to ensure you have the skilled workforce you need.

That's something about the immediate steps we're taking to drive nuclear forwards.

That takes me to the fourth part of my remarks.

New nuclear is an essential part as I've said of the clean energy system we are building, but it's also an essential part of the kind of economy we trying to build and perhaps we haven't talked about this enough in the past.

For too long, our country has failed to provide enough of the good jobs the British people have a right to expect.

The nuclear industry though has a proud record of supporting tens of thousands of well-paid, highly skilled, unionised jobs, which are vital to communities across the country.

I'm really struck by EDF's data on what has happened at Hinkley, with a 25% growth in people aged 25 to 39 living in the local area since 2011. That shows what new nuclear can do for places around our country.

We are determined to ensure the whole nuclear industry and supply chain continues to be an economic engine for our country.

Supporting good jobs for engineers, technicians, welders, project managers, researchers and more.

That's why we are backing the UK's brilliant R&D expertise.

In the budget we announced significant support for fusion research.

And we will shortly be publishing a review of how we will maximise the huge potential of the National Nuclear Laboratory.

We are also supporting UK nuclear fuels production, including at Capenhurst and Springfields.

At the same time, we see significant potential for manufacturing next generation technologies in our energy communities and industrial heartlands.

Let me also say this - as we develop these next generation technologies, I also want to acknowledge people who are too often ignored in these discussions, who are the thousands of workers at Sellafield and elsewhere across the Nuclear Decommissioning Authority.

I do want to acknowledge the work they do, and what David [Peattie] calls the biggest environmental restoration programme in Europe.

And the work that they do all day every day keeps us all safe and secure. And it's really important to recognise the importance of that.

And that work, of course, goes hand in hand with the critical work of the Office for Nuclear Regulation.

Across the nuclear industry there is also a proud history of social partnership and valuing the role of trade unions.

And we see that as an essential part of a modern workplace and a model for elsewhere in the economy.

I think in that way, in a broader sense, the truth is that the nuclear industry gives us a glimpse of what the clean energy economy can offer.

So to summarise on grounds of energy security, jobs and climate, the nuclear industry therefore has an essential role in our mission.

Let me though finish where I began:

My presence here is not to offer easy answers… These are difficult decisions that we are making and navigating.

But I did want to be here, when Tom told me about the opportunity, to emphasise to you the real importance of this industry to this government.

I think this is a brilliant industry, with a proud heritage and future and significant part to play in our vision for the energy system in the future.

We want to be a partner committed to your success. Because nuclear offers huge opportunities for our clean energy mission.

We talk a lot as government about this being a national mission; we don't think it's a slogan, we think it's a description of the only way we can move forwards as a country.

We want to work in partnership with investors, developers, manufacturers, trade unions, communities, business and the whole supply chain.

To deliver energy security.

Protect billpayers.

Create good jobs.

And show leadership on what I believe is the greatest long-term challenge we face: the climate crisis.

I'm grateful for the invitation to speak to you today, and I look forward to working with you in the months and years ahead.

Together I think we can do great things for our country and our world.