The Hinkley Point C nuclear plant is the first to be built in Britain for more than 20 years. Getty
The Hinkley Point C nuclear plant is the first to be built in Britain for more than 20 years. Getty
The Hinkley Point C nuclear plant is the first to be built in Britain for more than 20 years. Getty
The Hinkley Point C nuclear plant is the first to be built in Britain for more than 20 years. Getty

Ministers handed new powers to fast-track nuclear plants in Britain


Tim Stickings
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UK ministers will be handed new powers to speed up the approval of major infrastructure projects such as nuclear power plants and offshore wind farms.

The announcement came as outgoing Prime Minister Boris Johnson hinted at new commitments on nuclear energy before he leaves office on Tuesday.

Under the changes, projects considered as "nationally significant infrastructure" will be subject to a fast-track review process so that construction can start more quickly.

The government said subsequent changes would also be handled more quickly so that minor tweaks to a project do not hold it up for months.

"Particularly in a time of high inflation, things need to be done more quickly or costs of major infrastructure projects will rise," Levelling Up Secretary Greg Clark said.

"These changes will help deliver new infrastructure more quickly, by speeding up the planning process which often moves too slowly."

The desire to speed up energy projects in Britain comes against the backdrop of a mounting cost-of-living crisis, caused in part by reliance on gas and electricity imports and made worse by Russia's invasion of Ukraine.

The government announced in April that it would treble planned nuclear power generation, invest in large-scale plants and promote a new generation of smaller reactors to produce more energy in Britain.

Prime Minister Boris Johnson suggested he would make a further energy announcement before leaving office. Getty Images
Prime Minister Boris Johnson suggested he would make a further energy announcement before leaving office. Getty Images

A new nuclear power station, Sizewell C, was given the final go-ahead in July and there is speculation that Mr Johnson could announce government funding for the project before he leaves office.

"People do care about this. They want to know that we are going to have a long-term British energy security strategy. And we are," Mr Johnson said on Tuesday.

"We are putting in more nuclear. You are going to be hearing more about that later this week. And we are putting in absolutely shedloads of wind power as well."

Liz Truss, the favourite to succeed Mr Johnson when the winner of the Conservative leadership race is announced, has said she would increase North Sea oil and gas production in a push for long-term energy security.

Both she and rival candidate Rishi Sunak have been critical of solar power, while Mr Sunak promised to scrap plans for a modest increase in onshore wind power generation.

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Hydrogen: Market potential

Hydrogen has an estimated $11 trillion market potential, according to Bank of America Securities and is expected to generate $2.5tn in direct revenues and $11tn of indirect infrastructure by 2050 as its production increases six-fold.

"We believe we are reaching the point of harnessing the element that comprises 90 per cent of the universe, effectively and economically,” the bank said in a recent report.

Falling costs of renewable energy and electrolysers used in green hydrogen production is one of the main catalysts for the increasingly bullish sentiment over the element.

The cost of electrolysers used in green hydrogen production has halved over the last five years and will fall to 60 to 90 per cent by the end of the decade, acceding to Haim Israel, equity strategist at Merrill Lynch. A global focus on decarbonisation and sustainability is also a big driver in its development.

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The specs

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Updated: August 31, 2022, 8:26 AM`