British consumers could benefit from lower cost electricity if the Government was to back an SMR programme for the UK, according to a new report issued today by Rolls-Royce and its partners in a UK Small Modular Reactor (SMR) consortium.
The company and partners, including Amec Foster Wheeler, Arup, Laing O’Rourke and Nuvia, say SMRs could produce energy for as low as £60 per megawatt hour – competitive against wind and solar and helping the continual reduction in the price of nuclear generated power.
The study, entitled “UK SMR: A National Endeavour”, urges Ministers to support the development of British-manufactured power plants, which could create 40,000 skilled jobs, contribute £100bn to the economy and open up a potential £400bn global export market.
The report argues that, through its innovative approach to modular contruction, the UK SMR programme is uniquely placed to avoid the complexities, delays and overspends often associated with infrastructure projects.
Highlighting the importance of delivering security of supply as decarbonisation and electric vehicles look set to increase electricity demands from consumers, the study points out that just one SMR can power a city the size of Leeds, charge more than 62,000 electric cars, or keep 88 million smartphones operational.