Rolls-Royce has said that it can only deliver its first “mini” nuclear plant by its 2029 target date if the government commits this year to deploying the technology — years before it even gets safety approval.
The small modular reactor (SMR) consortium led by the FTSE 100 group has made an audacious pitch to ministers to fast-track the technology in Britain despite its early stage of development.
The Rolls-Royce SMR project claims that it can cut the cost of nuclear power by building reactor parts in factories. It wants to build a series of reactors, each powering about one million homes, with the first estimated to cost about £2.5 billion.
The venture had been aiming to deploy the technology by the early 2030s but brought that forward to 2029 after the government backed accelerated construction of new nuclear plants in its energy security strategy earlier this year. Tom Samson, chief executive of Rolls-Royce SMR, told The Times: “Getting the first SMR online by 2029 involves the government making a commitment to deploy our technology in the UK now.
“With an order or instruction from government, we can immediately begin building the factories to produce our modules and work with the Nuclear Decommissioning Authority or others to host our technology within the UK’s existing nuclear estate.
“If we do not have an instruction to deploy our technology in the UK by the end of this year, then our ability to meet 2029 will move back accordingly.”
The proposal has met with resistance in government because the Rolls-Royce SMR technology has only just begun the multi-year process of gaining safety approval for use in Britain.
This is not expected to be completed until 2026, with initial approval around 2024. It also does not have a site on which to deploy its technology or seek planning consent. Despite this, the consortium is hoping that the government, which has already committed £210 million of taxpayer funding to support it through the safety approval process, will provide a further commitment such as entering into negotiations over financial support for the project, even though the costs and design are not finalised.
Rolls-Royce SMR is not thought to be seeking direct taxpayer investment but wants assurances that it will be able to secure funding through charges on consumer energy bills, so enabling it to attract outside investors and start building factories in time to hit the 2029 date. It could then start building some components after initial safety approval in 2024.
A government spokesman said: “While small modular reactors do not yet exist, ministers are determined to accelerate progress where possible. Rolls-Royce’s reactor design is being assessed by safety regulators — a critically important process that must be allowed to run its course.”
