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Wednesday 06 April 2022 10:30 pm  |  Updated:  Wednesday 06 April 2022 9:27 pm

UK to push forward with nuclear revolution as Johnson unveils energy strategy

By: Stefan Boscia

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Hartlepool nuclear power station
Today's strategy will include plans to create a new government body, Great British Nuclear, and a £120m Future Nuclear Enabling Fund in a bid to build eight new nuclear reactors across the country.

The UK will drastically expand its number of nuclear power plants and offshore wind farms as a part of Boris Johnson’s newly unveiled energy strategy.

Tomorrow’s strategy will include plans to create a new government body, Great British Nuclear, and a  £120m Future Nuclear Enabling Fund in a bid to build eight new reactors across the country.

The move will mean that nuclear power will become a much larger part of the UK’s plans to become carbon neutral by 2050.

The strategy also includes plans to generate enough offshore wind energy to power every home in the UK by 2050 and a new licensing round for North Sea oil and gas projects planned to launch this autumn.

The government will only push forward with onshore wind farms for “a limited number of supportive communities … in return for guaranteed lower energy bills” in a win for Tory MPs concerned about potential constituent reaction to new wind turbines.

“We’re setting out bold plans to scale up and accelerate affordable, clean and secure energy made in Britain, for Britain – from new nuclear to offshore wind – in the decade ahead,” Johnson said.

“This will reduce our dependence on power sources exposed to volatile international prices we cannot control, so we can enjoy greater energy self-sufficiency with cheaper bills.”

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Sizewell B granted 20-year life extension

Sizewell B nuclear power station in Norfolk with clear skies and surrounding landscape, highlighting energy infrastructure.

Johnson’s energy strategy is being published in the wake of mass disruption to energy supplies due to sanctions placed on Russia.

It aims to outline how the UK can become more energy independent and keep prices down long-term.

Business secretary Kwasi Kwarteng said “we need to protect ourselves from price spikes in the future by accelerating our move towards cleaner, cheaper, home-grown energy”.

Labour climate change spokesperson Ed Miliband said the government’s “energy relaunch is in disarray”.

“Boris Johnson has completely caved to his own backbenchers and now, ludicrously, his own energy strategy has failed on the sprint we needed on onshore wind and solar- the cheapest, cleanest forms of homegrown power,” he said.

“This relaunch will do nothing for the millions of families now facing an energy bills crisis. No reversal of the ban on onshore wind and not a penny more on energy efficiency.”

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Babcock predicts global government defence spending spree after hit to profit

Babcock is a member of the FTSE 100.

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