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Energy Markets Outlook: Nuclear Fuel

• Energy markets outlook: December 2008 - chapter 8: nuclear fuel (224KB)

In January 2008 the Government published Meeting the energy challenge: a white paper on nuclear power setting out the Government’s policy on nuclear power development. It stated:

• The Government believes new nuclear power stations should have a role to play in this country’s future energy mix alongside other low carbon sources; that it would be in the public interest to allow energy companies the option of investing in new nuclear power stations; and that the Government should take active steps to facilitate this.

The White Paper also set out the timetable of facilitative actions necessary to enable energy companies to begin construction of the first new nuclear power station in 2013 - 2014 and start operation in 2017 – 2020.

In June 2008 the Government published Managing Radioactive Waste Safely: a framework for implementing geological disposal, a White Paper setting out the framework for implementing geological disposal for the UK’s higher-activity radioactive waste. Local communities were invited to open up without commitment discussions with Government of the possibility of hosting a geological disposal facility at some point in the future.

Uranium supply is unlikely to limit nuclear power for at least the lifetime of a new generation of reactors. Moreover, uranium (as yellowcake) is also easy to stockpile. A global nuclear renaissance that aimed radically to increase the nuclear share of generation in the period to 2025, might however face other constraints, for example, the supply of a skilled workforce and manufacturing capacity