Britain’s Energy Coast Business Cluster has welcomed changes to nuclear regulation which could make it easier to build nuclear plants.
The shake-up means the Government will implement the recommendations of a review completed last year by the nuclear regulatory taskforce review led by the former Office of Fair Trading boss John Fingleton.
The taskforce said a ‘radical reset’ was needed and outlined 47 recommendations for the Government to speed up building new nuclear projects at a lower cost and on time.
Recommendations include establishing a ‘one-stop shop’ for nuclear decisions and streamlining regulation to remove duplication and improve proportionality to avoid overly bureaucratic, costly processes while improving safety standards.
The expert group estimates that the reforms could save tens of billions in nuclear decommissioning costs alone, as well as cutting energy costs for consumers and driving more investment into the UK.
“BECBC members welcome the adoption of the Fingleton recommendations which are designed to reduce complexity, streamline regulation and therefore make delivering nuclear energy quicker and cheaper,” Dianne Richardson, chief executive of Britain’s Energy Coast Business Cluster, told Business Crack.
“Government have set themselves a target of delivering these reforms by the end of 2027 reflecting the importance of nuclear in creating energy security for the UK.
“Our recent white paper Cumbria’s Four National Missions provides a plan to ensure our local supply chain and communities benefit from delivering these national missions.”
The Government says it is implementing the review’s recommendations, with all reforms expected to be completed by the end of 2027.
