The UK government will put nuclear power at the centre of UK’s net zero emissions strategy, with a decarbonisation plan set to be published next week. Business secretary Kwasi Kwarteng will reveal a “Net Zero Strategy” paper as soon as Monday, together with a “Heat and Building Strategy” and an assessment of the costs to hit the 2050 climate targets, according to the Financial Times. Large atomic power stations will use a “regulated asset base” model, and UK residents will pay for the plant through an energy tax before it starts providing electricity, which could happen up to 10 years from when final investment decisions are taken. The scheme is believed to attract investment from institutional investors such as pension funds. But critics say consumers could face delayed construction costs.
London Economic 16th Oct 2021 read more »
For its supporters, nuclear energy is the world’s best — perhaps only — hope to avoid catastrophic climate change. Opponents say it is too expensive, too risky and totally unnecessary. Standing between the two camps are those who see atomic power as a necessary evil that will buy the time needed to develop cleaner and safer alternatives. “We don’t have the luxury of choosing one or the other,” said Dr Fatih Birol, executive director of the International Energy Agency, which advises developed countries. It’s a hotly contested debate that continues to divide specialists and policymakers alike. Still, nuclear stations are plagued by high construction costs — with recent projects taking longer to complete and blowing out budgets — as well as the thorny problem of disposing of highly toxic waste and decommissioning power stations.
Today Online 16th Oct 2021 read more »