LONDON (Reuters) -Britain needs a “radical reset” of its nuclear power regulation, a government review said, after the country became the most expensive place in the world to build nuclear power plants. Since winning an election in July 2024, Britain’s Labour government has launched a major push to expand nuclear power, hoping to meet its net zero goals while also boosting energy security and cutting bills. Prime Minister Keir Starmer commissioned an independent panel of experts to review the sector in February with the aim of helping to speed up new projects, reduce costs and strengthen safety. Here are some details from the report published on Monday and background on the sector:
* Finance Minister Rachel Reeves is set to respond to thereport’s call for radical reform of nuclear regulation in herbudget on Wednesday * Report outlines 47 recommendations to speed up projects * Energy minister Ed Miliband says he wants to deliver a”golden age of new nuclear” * The government has this year announced a 14 billion pound($18 billion) investment to build a new nuclear plant, SizewellC, in eastern England and advanced plans for new small modularreactors * Report recommends establishing a “one-stop shop” fornuclear decisions, removing duplication and bureaucracy * Previous regulation focused on process over outcome andwas unnecessarily complex, report says * Says planning delays must be fixed, internationalstandards introduced * Reforms could save tens of billions in nucleardecommissioning costs, report says
(Reporting by Sarah Young; Editing by Kirsten Donovan)
