The US and Britain are set to sign a deal this week to collaborate on boosting nuclear power, the UK government said. The agreement will draw in investment for new plants and reactors in the country.
U.S. President Donald Trump lands in Britain on Tuesday for a 2-day state visit. During the trip, Trump and Starmer are due to set out the nuclear partnership and the various projects lined up for development.
The plan is to speed up the investments and funding for nuclear development. Among the steps expected is an announcement by US-based X-energy and British-based Centrica to pursue the development of over 12 modular reactors in areas of northeast England. The move would add to efforts to grow a fleet of next-generation nuclear units that can be built faster than traditional plants.
Another package being lined up is an £11 billion ($15 billion) plan for the development of advanced data centres that run on small modular reactors at Cottam coal power site in central England. US-based Holtec International is expected to announce the project in collaboration with France’s EDF and property partner Tritax.
Starmer and Trump discussed closer work on small modular reactors earlier during their meeting at the U.S. president’s Scotland resort in July. “These major commitments set us well on course to a golden age of nuclear that will drive down household bills in the long run,” Starmer said on Monday.
In a government statement, Chris Wright, US Energy Secretary said, “Today’s commercial deals set up a framework to unleash commercial access in both the U.S. and UK.”
The UK government has also pledged £14 billion ($19 billion) for a new power plant at Sizewell C and is advancing plans for a Rolls-Royce unit to deliver the country’s first small modular reactors. Officials argue that a bigger nuclear fleet will strengthen energy security and help cut exposure to volatile fossil fuel prices.
The Sizewell C is plant will add over £200,000 per year to energy bills
The growing pipeline also comes with costs. Analysis by Cornwall Insight shows the development cost for Sizewell C will result in the addition of over £200,000 a year to the energy bills of major businesses that haven’t received exemptions. These companies will face levies of about £221,000 in 2026 to help fund Sizewell C.
Separate funds to upgrade and extend electricity cables will separately add around £100,000 for large users who haven’t received exemptions, from April 2026, rising to £250,000 by 2030. This means that a rough increase of 5% is expected on the energy bills of these affected companies.
Currently, steelmakers are among the top 500 largest electricity consumers. They receive a discount of 60% on network charges, which is set to increase to 90% by 2026.
Centrica to support £10 billion modular nuclear reactors plan
Centrica is also deepening its nuclear race as part of a £10 billion plan with U.S. partner X-energy to bring advanced modular reactors to the UK. The companies said they have signed am agreement for the deployment of X-energy’s Xe-100 reactors in Britain.
The first step is to 12 80-megawatt units at a site in Hartlepool, with output claimed to be enough to power 1.5 million homes. The plan follows Centrica’s £1.3 billion investment for a 15 per cent stake in the 3.2GW Sizewell C project.
Advanced nuclear modular reactors tend to be smaller and a lot more flexible compared with conventional plants, allowing them to be added in stages. X-energy says the Xe-100 design has been completed, and its first plant is being developed in Texas.
Downing Street says the transatlantic deal is designed to line up private capital and speed delivery of new stations. Ministers link the programme to lower long-term bills, even as near-term charges for heavy power users continue to rise under existing levies already.
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Source: https://www.cryptopolitan.com/us-and-uk-signing-nuclear-power-deal/