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Small modular nuclear reactors: on the ‘inside track’, Lord Hutton

People on ‘the inside track . . . wield privileged access and disproportionate influence’ according to the Parliamentary Public Administration Select Committee [PASC].

Lord John Hutton: a brief chronology

2008-9: Secretary of State for Defence

2010: Joined the board of US nuclear power company Hyperion Power 

2011: Appointed Chair of the Nuclear Industries Association

2010- 2015, became Chairman of the Royal United Services Institute.

2014 -2018: was a defence advisor/consultant with US arms firm, Lockheed Martin

2017: Became chairman of Energy UK, a trade association for the GB energy industry with a membership of over 100 suppliers, generators, and stakeholders with a business interest in the production and supply of electricity and gas for domestic and business consumers

SMR: artist’s impression

2017: The UK SMR Consortium is the trade association for the GB energy industry. Moribund? Its website has only five news entries, all dated Sept 2017. Lord Hutton’s foreword to its 2017 report (cover below): “A UK SMR programme would support all ten ‘pillars’ of the Government’s Industrial Strategy, and assist in sustaining the skills required for the Royal Navy’s submarine programme.”

2018: A report by the Expert Finance Working Group (EFWG), convened by BEIS in January, recommended that: “For technologies capable of being commercially deployed by 2030, HMG should focus its resources on bringing First of a Kind (FOAK) projects to market by reducing the cost of capital and sharing risks through:

  • assisting with the financing of small nuclear through a new infrastructure fund (seed funded by HMG) and/or direct equity and/or Government guarantees; and
  • assisting with the financing of small nuclear projects through funding support mechanisms such as a Contract for Difference (CfD)/ Power Purchase Agreement (PPA) or potentially a Regulated Asset Base (RAB) model while maintaining the supply chain plans required for larger low carbon projects”

2019: a July commitment to initial funding for SMRs is welcomed by the UK SMR Consortium (Rolls-Royce website)

“Our consortium warmly welcomes the Government’s decision to advance our new innovative small modular reactor programme. The government has today committed £18 million of initial funds to support the development of this power station as part of the Industrial Strategy Challenge Fund, subject to final confirmation in early autumn. Our design will bolster the UK’s ambitions to tackle climate change”.

The next step? Final confirmation of taxpayers’ funding for the small modular reactor programme in early autumn.

 

 

 

 

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