Energy and Climate Secretary Graham Stewart, for example, announced that UK nuclear fuel production would be increased by a £75m government fund “in an attempt to support the development of alternatives to Russian fuel supplies.” and strengthen the country’s energy security”.
This amount is expected to increase Britain’s nuclear power capacity to 24 GW by 2050.
Around £13m of the fund has already been allocated to support fuel production for the existing fleet of modern jets, and the UK government intends to use a further £50m as part of a competition to support the industry. nuclear. Company applications are accepted from January 2.
The G7 countries agreed last June on an action plan to reduce dependence on Russia for nuclear goods and services, including diversifying uranium supplies and nuclear fuel production capabilities. Russia currently possesses about 20% of the world’s uranium conversion capacity and 40% of the enrichment capacity.