The UK Department for Business, Energy & Industrial Strategy (BEIS) has announced a GBP75 million ($90m) Nuclear Fuel Fund to provide more options for UK nuclear operators to use UK-produced fuel investment to support development and commercialisation of domestic nuclear fuel production and advanced fuel technologies. The move aims to support development of alternatives to Russian fuel supply and strengthen UK energy security, Energy & Climate Minister Graham Stuart said. This will also support government plans to secure up to 24GWe of nuclear power by 2050.
In June the G7 countries agreed to reduce dependence on civil nuclear and related goods from Russia, and to diversify their supplies of uranium and nuclear fuel production capability. Russia currently owns around 20% of global uranium conversion capacity and 40% of enrichment capacity.
The fund will support development of new conversion capacity in the UK for both raw and reprocessed uranium. Some GBP13m has already been awarded to the Westinghouse Springfields site in Lancashire which supplies fuel to the UK’s advanced gas cooled reactor fleet. The funding is intended to help the company develop primary conversion capability for both reprocessed uranium and newly mined uranium.
The remaining GBP50 million is intended to “stimulate a diverse and resilient nuclear fuel market, supporting specialist skills, levelling up opportunities through new job creation across the country and opening up new export opportunities”.
BEIS said it will support projects establishing new domestic fuel capabilities, which could include fuel supply options for light water reactors, including future small modular reactors as well as projects producing new fuel types which will be needed to supply advanced modular reactors, planned to be in operation from the 2030s, such as High Assay Low Enriched Uranium (HALEU). The fund is open to applicants until 20 February.
