UK Trends and Developments Contributed by: Ruth Byrne KC, Andrea Stauber and Erin Vandzura, King & Spalding International LLP
• extending the lives of four advanced gas- cooled reactor stations, following inspections and regulatory approvals. The UK government also announced a signifi- cant investment into Sizewell C, the Suffolk- based nuclear power station that is jointly owned by the government and EDF Energy. So far, the UK government, which has an 85% stake in the project, has pledged GBP5.5 billion towards development work. Once construction starts, Sizewell C is expected to take between nine and 12 years to complete and upon completion to generate 3.2 GW of electricity, equating to 7% of the UK’s needs.
There is general consensus that the UK should focus on developing its nuclear power capacity and capitalise on its geographical advantages by developing CCUS and offshore and onshore wind. Attracting private investment into the renewable and nuclear sectors without offering subsidies and tax breaks will require regulatory certainty, however. Planning and consenting processes for offshore wind are still too slow and significant reforms to planning regulations for onshore wind, together with clear and con- cise targets, are desperately needed. Both the former and current UK governments’ ambitions for CCUS are bold and ambitious, yet consider- able work is needed to deliver on them. As a result, significant challenges remain for the UK government’s path to net zero.
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