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Nuclear energy

Britain Backs Mini Nuclear Power Plants in Bid to Meet Net Zero Goals

Strategic Insights

— 2 min read

The UK government is investing in mini nuclear power plants, designed by Rolls-Royce, which are expected to provide stable, baseload power while reducing costs and construction times. The first SMRs are likely to come online in the mid-2030s, with each reactor capable of powering about 1 million homes. The mini plants will use proven light water reactor technology and be assembled from factory-made modules on site, reducing complexity and construction times.

Key Takeaways:

  • The UK government will provide billions of pounds towards the development of the country's first small modular reactors (SMRs), as part of a new "golden age" for atomic energy.
  • Rolls-Royce has been selected to design the mini reactors, which will be capable of powering about 1 million homes each.
  • The mini plants will use proven light water reactor technology and be assembled from factory-made modules on site, reducing complexity and construction times.
  • Each Rolls-Royce SMR will generate about 470 megawatts of power, placing them at the larger end of the scale for mini reactors.
  • The economic case for SMRs only stacks up if they are built at scale to standardized designs, with at least 50pc of the spending for each plant going towards the factory-made modules.
  • The first SMRs are likely to be built at either Wylfa, Anglesey, or Oldbury-on-Severn, Gloucestershire, with other options including Bradwell, Essex; Moorside, Cumbria; and existing nuclear sites such as Heysham, Lancashire; Hartlepool, County Durham; and Torness, East Lothian.
  • The UK government is expected to open up far more sites for nuclear development, with ministers willing to reform the planning system to facilitate this.
  • Rolls-Royce has previously said it expects its SMRs to cost between PS2bn and PS3bn each, although the first one is likely to be significantly more expensive.
  • The UK is betting on mini nuclear plants to provide stable power, with the country aiming to meet its net zero goals by reducing the costs of the green energy transition.
  • The US Department of Energy has reported that the economic case for SMRs only stacks up if they are built at scale to standardized designs.

Statistics:

  • 470 megawatts: The amount of power that each Rolls-Royce SMR is capable of generating.
  • 1 million homes: The number of homes that each Rolls-Royce SMR is capable of powering.
  • PS2bn-PS3bn: The cost of each Rolls-Royce SMR, according to the company.
  • 50pc: The proportion of spending for each plant that should go towards the factory-made modules, according to the US Department of Energy.
  • PS500bn: The expected market size for mini reactors.
  • 2030s: The decade when the first SMRs are expected to come online.

Sources:

  • The Times
  • US Department of Energy (2024 report)
  • Britain Remade
  • Rolls-Royce
  • Ecotricity

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