Government subsidies for renewable energy schemes are hampering the development of more cost-effective nuclear power stations, according to a recently published CBI report.
In its report – entitled Forging a Nuclear Renaissance: Making new nuclear a reality – the business lobbying group says that between six and ten new nuclear plants need to be built in the UK before 2030 in order for climate change targets to be met and energy security bolstered. The plants would have a combined generating capacity of 16 gigawatts.
However, the CBI argues that the state subsidies offered to renewable energy projects means private investors are lured to those projects while neglecting nuclear investments.
The CBI sets out a number of recommendations to the government in the report, including the publishing of national policy statements on new nuclear build and the delivery of a new long-term nuclear waste solution.
It also called on the private sector to maintain public confidence in nuclear power by “continuing to operate existing stations safely and reliably.”