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Hunt-Nuclear Power To Be Classed 'Environmentally Sustainable' In Taxonomy


In his Budget statement, Chancellor of the Exchequer speaks on UK nuclear power:

  • "We have increased the proportion of electricity generated from renewables from under 10% to nearly 40%. But[...] we will need another critical source of cheap and reliable energy. And that is nuclear.[...] increasing nuclear capacity is vital to meet our Net Zero obligations. So to encourage the private sector investment into our nuclear programme, I today confirm that subject to consultation nuclear power will be classed as “environmentally sustainable” in our green taxonomy, giving it access to the same investment incentives as renewable energy."
  • "Alongside that will come more public investment.[...] two further commitments to deliver our nuclear ambitions. Firstly,[...] I am announcing the launch of Great British Nuclear which will bring down costs and provide opportunities across the nuclear supply chain to help provide up to one quarter of our electricity by 2050. And secondly, I am launching the first competition for Small Modular Reactors. It will be completed by the end of this year and if demonstrated to be viable we will co-fund this exciting new technology."

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