Home Business News UK to invest £300 million in ‘nuclear fuel’ as we will not allow Putin to ‘hold us to ransom’

UK to invest £300 million in ‘nuclear fuel’ as we will not allow Putin to ‘hold us to ransom’

8th Jan 24 7:56 am

The UK will launch a £300 million drive for “nuclear fuel” as Britain will not allow Vladimir Putin to “hold us to ransom.”

The British government will end Russia’s power on being the only commercial producer of enriched uranium for the next generation of nuclear reactors to produce fuel.

The plans will build new supplies of affordable and clean power for domestic use, which will involve a £300 million investment into “high-assay low enriched uranium” (HALEU).

The Energy Secretary Claire Coutinho said Ministers will not allow the Russian leader to “hold us to ransom on nuclear fuel.”

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She added, “Britain gave the world its first operational nuclear power plant, and now we will be the first nation in Europe outside of Russia to produce advanced nuclear fuel.

“This will be critical for energy security at home and abroad and builds on Britain’s historic competitive advantages.”

Putin’s war in Ukraine has entered its third year and next month it will be the second anniversary since the war started on 24 February, 2022.

The £300 million investment will create jobs and deliver a quarter of the UK’s electricity through nuclear by 2025, and a further £10 million will be provided to develop the required skills needed.

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