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Urenco response to UK Government’s 2023 Spring Budget
15 March 2023
Today the Government outlined plans in its 2023 budget to launch the new body, Great British Nuclear (GBN).
GBN will oversee a competition for the country’s first Small Modular Reactors (SMRs) and coordinate the delivery of new power plants to meet up to 24 gigawatts of nuclear power in the UK by 2050.
GBN will also select sites for potential nuclear projects, helping to remove costs and bureaucracy for development.
Separately, the Chancellor confirmed that nuclear energy is to classed as “environmentally sustainable” under green taxonomy, subject to consultation, allowing it to harness the same investment incentives as renewable energy.
Emilie Isaacs, Head of Government Affairs for Urenco, said:
“We welcome the GBN announcement which should help deliver new nuclear capacity in the UK, as part of a low-carbon sustainable energy mix.
“Energy security and independence have never been as important as they are today, and we support the Government’s proposals to improve the conditions for investment into nuclear projects to enable long-term ambitions to be realised.
“It is vital that these plans come to fruition as we progress on the journey to net zero and we stand ready to assist the Government and industry as required.”
About Urenco
Urenco is an international supplier of enrichment services and fuel cycle products with sustainability at the core of its business. Operating in a pivotal area of the nuclear fuel supply chain for 50 years, Urenco facilitates zero carbon electricity generation for consumers around the world.
With its head office near 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. Using centrifuge technology designed and developed by Urenco, and through 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 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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