The UK has announced plans to manufacture advanced nuclear fuel, aiming to enhance energy security, diversify global supply chains, and lower energy costs.
This includes building Europe’s first facility for nuclear fuel production, creating jobs and reinforcing the UK’s position in nuclear technology.
With an investment of £196 million, Urenco will construct a uranium enrichment facility by 2031, breaking Russia’s dominance in high-assay low enriched uranium production.
Additionally, the UK leads in fusion energy development, inviting bids for a £600 million fusion prototype power plant.
Prime Minister, Rishi Sunak, said: “Building our own uranium enrichment plant is essential if we want to prise Putin’s blood-soaked hands off Europe’s energy market.
“Russia has been the sole provider of this powerful nuclear fuel for too long and this marks the latest step in pushing him out of the energy market entirely.
“The wider future of British nuclear remains a critical national endeavour – guaranteeing nuclear and energy security and reducing energy bills for Brits.”
Secretary of State for Energy Security and Net Zero, Claire Coutinho, said: “We stood up to Putin on oil and gas and we won’t let him hold us to ransom on nuclear fuel.
“Backing Urenco to build a uranium enrichment plant here in the UK will mean we are the first European nation outside Russia to produce advanced nuclear fuel.
“This will support hundreds of new jobs, bring investment for the people in Cheshire and is a huge win for energy security at home and abroad.”
Copyright © 2024 Energy Live News LtdELN
