The deal calls for: a new approach to building power plants — with a target for a 30% reduction in the cost of new build projects by 2030; a long-term vision of innovation-led growth that delivers successively lower generation costs and a 20% reduction in decommissioning costs to the taxpayer; a more competitive supply chain, with more UK companies using advanced manufacturing methods and entering domestic and export markets for nuclear goods and services.
In 2016, nuclear provided 20% of the country’s electricity. The sector contributes £12.4bn to the UK economy and provides long-term employment for 87,000 people across the civil and defence sectors.
Andrew Storer, chief executive officer of the Nuclear AMRC, said: "We welcome the Nuclear Sector Deal, which represents a landmark agreement between government and industry to reduce costs and increase productivity across the UK nuclear sector.
"This deal will benefit manufacturers in all parts of the nuclear supply chain, and maximise the economic opportunity from clean growth. It will support innovation and technology transfer between sectors, helping companies increase their productivity and competitiveness, and reduce barriers to entry for manufacturers moving into nuclear from other sectors such as oil and gas or marine engineering.
"Here at the Nuclear AMRC, we will have an important role to play in delivering the deal. We will work with our industry and research partners to demonstrate the benefits of advanced techniques and technologies for manufacturers of all sizes. We will also play a leading role in the new national programme to enhance the capabilities of the UK's supply chain, expanding our established Fit For Nuclear programme and building on the success of Civil Nuclear Sharing in Growth.
"As well as supporting the deal's headline cost reductions of 30% in nuclear new build and 20% in decommissioning, our work will be central to the national effort to create or sustain up to 12,500 jobs across the UK, and secure up to £2 billion domestic and international contracts by 2030. We're already working with international partners such as in the United Arab Emirates and South Korea, and with global reactor vendors, to identify export opportunities for the UK supply chain."
