Source · Select Committees · Science, Innovation and Technology Committee
Recommendation 18
18
Accepted
Paragraph: 105
Government policy on Small Modular Reactors (SMRs) remains at a critical crossroads.
Conclusion
The Government is at a cross-roads in its policy on small modular reactors (SMRs). So far it has funded a consortium led by Rolls-Royce with over £210 million of research and development funds to develop a concept SMR design, and now, to further develop the design to the extent that it can pass the generic design assessment process. That public funding was matched with £280 million from the private sector. It has subsequently announced that Great British Nuclear will launch and administer a competition in which other vendors’ technology would be assessed. What is then required is a set of pivotal decision on the actual deployment of, rather than research into, SMRs.
Government Response Summary
The government committed to co-funding selected SMR technologies through GBN's Technology Selection Process by 2029, developing a new nuclear National Policy Statement beyond 2025, and consulting on siting strategy and SMR funding models in Autumn 2023.
Paragraph Reference:
105
Government Response
Accepted
HM Government
Accepted
The government sees SMRs as having a crucial role to play in our future energy mix as we transition to net zero and support our energy security. GBN has launched a Small Modular Reactor Technology Selection Process (TSP) to identify those companies best able to reach a project FID by 2029, which could result in billions of pounds of public and private investment in SMRs. The Government will provide co-funding to be deployed by GBN to support the development of these selected technologies and will work with successful bidders on ensuring the right financing and site arrangements are in place. to market for new nuclear projects in addition to the TSP. The evidence received will help shape future policy and ensure that the UK’s nuclear programme is as comprehensive and inclusive as possible. We are developing a new nuclear National Policy Statement (NPS), which will cover the deployment of new nuclear power stations beyond 2025. This new NPS will take into account the changes in the nuclear landscape since the current NPS was published in 2011, including the realistic potential for deployment of advanced nuclear technologies such as SMRs. We are intending to consult later this year on the future siting strategy. In addition, GBN will work with wider Government on access to potential sites for new nuclear projects to achieve our long-term ambition. The Nuclear Energy (Financing) Act 2022 has introduced the Regulated Asset Base (RAB) funding model as an option for new-build nuclear projects in the UK. Consultation and further engagement with stakeholders in Autumn 2023 will help to confirm the most appropriate funding model for SMRs to assist their deployment for electricity generation and supply in the UK.