Report: Nuclear power investment should not be delayed

The UK can realise a £10 billion economic opportunity through adopting a new, holistic approach to nuclear energy that would tackle concerns over security of energy supply, rising oil prices and safety issues, says a new Oxford University report. The report by the Smith School of Enterprise and the Environment (SSEE) explores possible future scenarios to accelerate the delivery of a safe, holistic and long-term strategy for current and future nuclear material and spent fuel management. It assesses likely costs, risks, safety and potential returns to the UK taxpayer and the wider economy, and looks at options for existing and new facilities at Sellafield. Professor Sir David King, Director of the SSEE, said: 'Currently the UK has a window of opportunity to deal with its nuclear material and spent fuel management and to maximise the value of its existing assets. The renaissance in new nuclear build creates an advantageous way of using these legacy materials as fuel for new nuclear power plants. Despite the terrible events in Japan, the economic, safety and carbon case for a new build programme in the UK has never been stronger. "Despite the terrible events in Japan, the economic, safety and carbon case for a new build programme in the UK has never been stronger" Professor Sir David King 'Our report evaluates scenarios that would reduce cost to the taxpayer and create billions of pounds of economic opportunity through new skills and jobs, as well as reducing carbon emissions and increasing energy security and safety.