Nuclear Energy in the UK: Prospects to 2030

Vladimir Chikovskiy
BSc
Project submitted in partial fulfilment of the requirements for the degree of MSc (Energy and Resources), UCL School of Energy and Resources, Australia
Abstract
In the foreseeable future, the energy sector in
developed and developing countries is likely to operate under carbon-constraint
conditions involving high fossil-fuel prices and market competition to
encourage more effective ways of power production. To meet energy demands
nuclear power may be considered as an alternative to the current carbon-intensive
power plants. In addition, nuclear power may be favourable over renewable
energy sources that remain unreliable based on their intermittent supply of
energy. This thesis will discuss the potential dynamics of nuclear power as a
share of the UK energy market and will cover nuclear power prospects to 2030 in
the UK. The assessment shows that nuclear power in its current status is not
capable of becoming a single-point solution for the energy needs of the country
and competing solely on the UK energy market because of its capital intensity
and the present structure of the energy market. However, with planned market
reforms and low-carbon incentives (e.g., carbon floor price) new nuclear
developments are likely to succeed as one of the options for energy generation.
Within the current electricity network of the UK, nuclear power will assist in
achieving low-carbon targets and provide sufficient supplies of base-load
electricity to the UK energy market. Existing reactor designs (e.g., Generation
III+) are likely to be considered taking advantage of the lessons learnt
through similar projects in other countries. These reactors are more economical
and sustainable as they provide an increased level of security and safety from
earthquakes and unusual events. Public perception is a major challenge which
may be overcome by conducting further work within communities through general
public education programmes. Provided that sufficient attention is given by UK policymakers
and educating the general public on the science of nuclear power, new nuclear
power stations are likely to continue their presence in the UK energy mix by
2030 and beyond.
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