Source · Select Committees · Science, Innovation and Technology Committee
Recommendation 9
9
Accepted
Paragraph: 58
SMR Final Investment Decision timeline risks delaying new reactors beyond early 2030s.
Conclusion
In its July 2023 announcement on Great British Nuclear, the Government said that it would use the small modular reactor technology selection process (SMR TSP) to identify those reactor companies best able to reach a project Final Investment Decision (FID) by the end of 2029. The FID would include funding to support site access and site-specific design. Therefore, some of the more time-consuming aspects of building new nuclear projects, namely site-specific regulation and relevant licencing, would not begin for any successful SMR design until after 2029. This new timeline would go beyond the dates that many of the SMR developers have proposed is possible for SMR reactors to supply energy to the grid, namely the early 2030s.
Government Response Summary
The government clarified that the Small Modular Reactor Technology Selection Process anticipates including all relevant planning and regulatory approvals required to reach a Final Investment Decision by 2029.
Paragraph Reference:
58
Government Response
Accepted
HM Government
Accepted
As set out on 18 July, the Contract Notice published by Great British Nuclear (GBN) sets out an intention to enter into a development contract with those successful bidders, with the option of pursuing a project through FID to construction and subsequently operations, providing a route to market for successful bidders. In practice, this means offering chosen technologies an unprecedented level of support: funding to support technology development and site-specific design; a close partnership with GBN, which will be ready and able to provide developer capability; and support in accessing sites. It is anticipated this process would include all relevant planning and regulatory approvals as required to reach FID by 2029.