Frazer-Nash Consultancy has been awarded a contract by the UK Government’s Department for Business, Energy, and Industrial Strategy (BEIS), to provide nuclear energy generating costs for large and advanced nuclear technologies to support and underpin the UK’s energy strategy.
Multiple options in the power sector need to be explored to determine what electricity generation mix will be needed to reach Net Zero 2050. As part of this, nuclear technologies will have a part to play in supplying reliable baseload power to complement intermittent renewables, with an ambition of up to 24GW of nuclear capacity by 2050 as part of the new British energy security strategy.
Tom Purnell, Business Manager for Advanced Nuclear Technologies, and Government at Frazer-Nash Consultancy said:
“In-house modelling is crucial to help BEIS understand the future electricity generation mix, and up to date information for accurate and robust modelling is critical. BEIS has asked Frazer-Nash to update nuclear generation costs and technical assumptions to more accurate figures, reflecting the changes in the nuclear policy, market, and technology spaces in recent years. Current assumptions cover only large-scale nuclear power, which will be reviewed through delivery of this project, but these must now include a wider range of nuclear technologies, namely SMRs (small modular reactors) and AMRs (advanced modular reactors).”
Tom added:
“Our team looks forward to collaborating with BEIS to deliver this support, culminating in a public facing report. We will be liaising with technology vendors, alongside reviewing wider data sources over the coming months, to provide the necessary evidence base, qualification and commentary required. We hope this work will provide greater confidence and support to the government and broader sector in delivering upon the strategy outlined for new nuclear as part of the British energy security strategy.”
