UK to fund new nuclear power station as part of net zero drive -Telegraph
Reuters
Published Oct 17, 2021 23:02
Updated Oct 17, 2021 23:15
(Reuters) - The UK government will announce plans to fund a new nuclear power plant before the 2024 election as part of its Net Zero strategy, The Telegraph reported on Sunday.
"We are seeking to approve at least one more large-scale nuclear project in the next few years to strengthen energy security and create thousands of jobs,” a government spokesperson told Reuters.
The recent energy crisis in Europe and fuel shortage in the UK have brought to light the shortcomings of over-reliance on non-renewable energy and have prompted London's move towards clean, renewable energy generation.
The Sizewell C site, a nuclear power plant being endorsed by EDF (PA:EDF) Energy for Suffolk, eastern England, will be the top pick to get the funding, The Telegraph report added, citing government insiders.
Early this month, British Prime Minister Boris Johnson said the UK was aiming to produce "clean power" by 2035 as part of its goal of reaching net-zero carbon emissions.
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.