Connect with us

Hi, what are you looking for?

Editor’s Pick

Grant Shapps backs nuclear power in net zero push

<?xml encoding=”utf-8″ ??>

Nuclear must form part of a decarbonised portfolio of energy production, argued Grant Shapps, energy and net zero secretary.

He said: “If you want to get to net zero and get rid of hydrocarbons, we have to accept that base loads are required somewhere. Nuclear power can and should be part of that.”

Shapps told the Environmental Audit Committee yesterday that by launching Great British Nuclear, the government will provide a “much more stable platform” for those wanting to invest in nuclear power as well as more clarity on the trajectory and pace of its development.

He also revealed he will soon publish a detailed plan on the development and use of hydrogen and expressed his support for onshore wind, which he said is opposed by only four per cent of people, according to a government public attitudes tracker

The UK is under pressure to deliver a set of policies that would drive investment in low-carbon technology and match the Inflation Reduction Act in the US and the Green Deal Industrial Plan in the EU.

Analysts are expecting what has been dubbed as the government’s “Green Day” before the end of March, when it must abide by a High Court order and publish a revised strategy on achieving net zero.

Chancellor Jeremy Hunt reiterated in the Spring Budget the government’s desire to invest £700m in a new nuclear plant in Suffolk, £20 billion in carbon capture and storage (CCS) and he suggested that small modular reactors – a technology yet to be proved viable – could receive funding.

He also said nuclear power will be reclassified as “environmentally sustainable” while the government’s soon-to-be-launched Great British Nuclear scheme will boost investment in the industry.

Hunt was criticised for his focus on nuclear and CCS instead of insulation and renewables and MPs have questioned what has changed to make nuclear power environmentally sustainable.

Shadow climate secretary Ed Miliband said Labour wants to create “over a million” jobs in green industries.

He added: “The British people should benefit from our natural resources but still the Conservatives won’t back Labour’s plan for Great British Energy – a new, homegrown, publicly-owned, clean energy company to lower household energy bills.”

Mike Childs, head of policy at Friends of the Earth, said: “Backing expensive technologies like CCS and a new nuclear programme, while still blocking cheap onshore wind in England and failing to properly insulate the UK’s energy-leaking homes, will leave the UK hooked on high energy costs and falling behind in the global race to benefit from the transition to greener economies.”

Sam Alvis, head of economy at Green Alliance, said: “With the US and Europe spending huge sums on clean energy and green technologies like electric vehicles, we needed a budget that would encourage businesses to invest a green pound here rather than a green dollar or euro elsewhere. Instead, it feels like we are developing short-term investment schemes instead of a long-term plan for building the green economy of the future.”

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



Source: The world’s biggest crypto exchange Binance and its CEO and founder Changpeng Zhao were sued by the US Commodity Futures Trading Commission (CFTC) on Monday for operating what...


REUTERS BRUSSELS — European Union (EU) countries’ energy ministers are set to give final approval on Tuesday to the bloc’s law to end sales...


NEWLYWEDS pose for a photographer in front of overflowing garbage bins in a street near the Eiffel Tower as garbage has not been collected...


A WOMAN walks on the ice to a measuring point on the Pers Glacier near the Alpine resort of Pontresina, Switzerland, July 21, 2022....


RAWFILM-UNSPLASH BERLIN  — Global investments in energy transition technologies must more than quadruple annually to stay in line with commitments made under the Paris...


FREEPIK THE UNPRECEDENTED fiscal firepower used to protect the vulnerable from the harsh socio-economic impact of the COVID-19 pandemic and the resulting economic contraction...

You May Also Like


COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...


REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...


BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...


KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...

Disclaimer: Respect, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.