In advance of COP26 and possible government announcements on new
nuclear and its potential role in achieving net zero please see
Prospect policy briefings here:
Nuclear's role in closing the energy gap
Key points:
- Winter 2021 saw unprecedented volatility in the UK
electricity system; real-time prices reached a record £4,000/MWh
at one point in January
- Declining domestic firm power capacity, and an over-reliance
on imports and variable power sources risks undermining our
energy security and climate goals over the next decade
- A wind ‘drought’ in March 2021 led to increased carbon
emissions as natural gas and coal kept the lights on; prolonged
interconnector outages this winter highlight the dangers of
relying too heavily on imports
- Nuclear is the only proven, low-carbon firm power source that
can ensure resilience without raising emissions, even during
extreme weather events
The Economic Impact of Nuclear
Summary of key points:
- The UK’s civil nuclear industry currently sustains tens of
thousands of UK jobs; each installed MW of nuclear capacity
supports 4.68 direct & supply chain jobs more than any other
low carbon technology
- The civil nuclear industry is one of the UK’s most
productive, with output per fulltime equivalent (FTE) job of
£103,500, placing the sector well within the top 10% most
productive
- There is a strong regional dimension to the civil nuclear
industry in the UK, with close to two-thirds of jobs located
either in the North West or South West of England; the civil
nuclear industry is estimated to contribute £1 in every £50 of
economic output in these two regions
- At a constituency level, nuclear jobs are heavily
concentrated in Conservative-held seats, where they contribute
millions of pounds annually to their respective local economies
- A full nuclear new build programme, delivering 18GW of new
capacity, could create tens of thousands of jobs during the
construction phase, add billions to regional economies, while
sustaining thousands of high-quality jobs during the 60-year
operational life-cycle of the stations
