Mike Tynan, CEO of the Nuclear Advanced Manufacturing Research Centre (Nuclear AMRC) in Sheffield and Tim Yeo, Chairman of Energy 2050’s International Advisory Board (IAB) provide expert opinion at the Small Modular Reactor (SMR) UK summit on 20-21 October, 2015.
The SMR UK Summit bringing together the thought leaders that will lead the new nuclear renaissance, aims to make SMRs a commercially viable nuclear option for the UK. The summit provides insight into the evolving SMR landscape, with exclusive understanding of how the leading technology vendors plan to deploy their SMRs; into the international SMR market and the role the UK can play; focuses on the economic challenges, the issues of public acceptability, siting, licensing and how to build the SMR supply chain for the next generation of nuclear energy.
The UK energy policy is reaching a critical period- nuclear power plants are ageing, by 2030 all but one will be offline, at the same time, the government has pledged to cut emissions by 31% by 2025. Nuclear remains on the agenda but with £24.5bn required for Hinkley Point, appetite for new large nuclear projects is limited.
Small Modular Reactors (SMRs) could play a key role in the energy mix. A recent study from NNL concluded that there is an opportunity for the UK to regain technology leadership in the ownership and development of low- carbon generation and secure energy supplies through investment in SMRs. It also stated that there is a very significant market for SMRs where they fulfil a market need that cannot be met by large nuclear plants, with the size of the potential SMR market calculated to be approximately 65-85 GW of new capacity by 2035, valued at £250-£400 billion.