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New build nuclear projects will create thousands of jobs - the new government needs to get serious and deliver

New build nuclear projects will create thousands of jobs - the new government needs to get serious and deliver

The government has announced a consultation on using the regulated asset base (RAB) model to fund new nuclear projects.



Sue Ferns, Prospect senior deputy general secretary, said:

“The new government needs to get serious and deliver on the energy infrastructure the UK needs to keep the lights on and to meet our carbon targets on the way to the goal of net zero.

“New build nuclear projects will create thousands of jobs, inject hundreds of millions of pounds into the economies of rural coastal communities and, crucially, help us avoid catastrophic climate change

“Direct public procurement would likely be the cheapest way to fund new nuclear, but an infrastructure spending commitment on this scale is unlikely under the current government.

“So while the RAB model is not a perfect solution, it is an approach that could get nuclear projects over the finishing line.

“More funding for Small Modular Reactors is also welcome. National Grid have suggested that a net zero target could require double the current capacity of nuclear by 2050. With the threat of climate change bearing down on us, it is vital we get on and build low-carbon nuclear capacity.”