The CBI said 16GW of new nuclear capacity will need to be built to shift the UK's energy system to a low-carbon model.
That equates to 10-12 reactors, based at 6-10 new plants, which would be built on existing nuclear sites. The CBI is also warning that without a significant shift in current energy policy, the private sector will not be able to build the new infrastructure required.
Launching a new report today (Wednesday) called 'Forging a Nuclear Renaissance: Making new nuclear a reality', the CBI reiterated its call for change in the existing policy that is subsidising investments in renewable energy at the expense of other more cost-effective low-carbon sources, including nuclear power.
ADVERTISEMENTDr Neil Bentley, CBI Director of Business Environment, said: "With most existing nuclear plants due to close within ten years, we urgently need new reactors to come on stream.
"Nuclear power can play a key role in cutting carbon emissions and bolstering energy security. It needs to be part of a broad-based energy mix that includes wind and other renewable sources, gas and clean coal.
"The forthcoming national planning statements should deliver a firm commitment to building new nuclear power by identifying enough sites to accommodate the scale of new reactors that will be needed. Meanwhile, the new Infrastructure Planning Commission should hit the ground running and take steps to speed up the planning regime, so firms can invest in new energy projects with confidence."
In the report the CBI sets out key recommendations to the government. It says it should:
publish National Policy Statements for new nuclear build as quickly as possible.
set up a joint government-industry task force to explore whether an additional market mechanism is needed to incentivise the volume of low-carbon generation that must be built.
deliver a long-term nuclear waste solution for the UK.
provide support for companies involved in the nuclear supply chain.
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