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Urenco response to UK Government’s publication of Net Zero Strategy
19 October 2021 GlobalWe welcome the Government's publication of its Net Zero Strategy which places nuclear power at the heart of Britain's target to reach net-zero carbon emissions by 2050.
Nuclear power has a key role alongside renewables in the clean energy transition through supporting both reliable, low carbon electricity generation and the future production of hydrogen. The Government's confirmation to bring at least one large-scale nuclear project to the point of Final Investment Decision by the end of this Parliament as well as taking measures to inform investment decisions during the next Parliament on further nuclear projects is, therefore, a significant step in the UK's net-zero journey.
The Government's decision to proceed with the introduction of a regulated asset base (RAB) model for the financing of these new nuclear power plants is also a another important step forward. The RAB model is central to reducing the cost of building the new nuclear capacity the UK urgently requires if it is to transition to net zero and decrease the reliance on fossil fuels.
There is a great deal of support across the UK from businesses, trade unions, and the supply chain who are all ready to deliver on the next generation of nuclear power and we look forward to playing a role in supporting the Government to drive forward their ambitions.
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About Urenco
Urenco is an international supplier of uranium enrichment services, fuel cycle products and related solutions with sustainability at the core of our business. Operating in a pivotal area of the nuclear fuel supply chain for over 50 years, Urenco understands the importance of energy security and facilitates the reliable delivery of low carbon electricity generation for consumers around the world.
With its head office in London, UK, Urenco’s global presence ensures diversity and security of supply for customers through enrichment facilities in Germany, the Netherlands, the UK and the USA. Through our technology and the expertise of our people, the Urenco Group provides safe, cost effective and reliable services, operating within a framework of high environmental, social and governance standards, complementing international safeguards.
Urenco is making a positive contribution to global climate change goals through our core business and we are committed to achieving net zero carbon emissions by 2040.
We are committed to continued investment in the responsible management of nuclear materials; innovation activities with clear sustainability benefits, such as nuclear medicine, industrial efficiency and research; and nurturing the next generation of scientists and engineers.
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