The UK Government Secretary for Trade and Energy has warned that the construction of nuclear power plants may cause a rise in household bills. During his visit to North Wales on Thursday, Kwasi Kwarteng said that during the early stages of building a reactor “it would add at most a few pounds a year to a typical home”, but in the long term, it would provide us with “more energy”. cheap”.
Mr Kwarteng, along with UK Energy Minister Greg Hands, visited the Wylfa site in Anglesey on Thursday to launch its £120m Enabling the Future Fund, in which the government has committed to building a nuclear power reactor on site. The fund aims to unlock and accelerate new nuclear technologies, while encouraging new investment in the market.
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It has been created to support the UK Government’s ambitious goal of approving eight new reactors by 2030, as part of its commitment to the UK Energy Security Strategy which was launched in April. During his visit to Anglesey, Greg Hands said the Wylfa site had “enormous potential” as a nuclear power plant. He added: “There will be a process and our ambition is to build to have 24 GW by 2050, which will be 25% of our electricity, with eight rectors approved before the end of this decade. That is a great ambition but one that we have to meet.”
During an interview with BBC News, Kwasi Kwarteng explained that nuclear power was “part of the solution” to the UK’s energy needs as it seeks to reduce its dependence on oil and gas. Asked by BBC News if the political gamble was worth raising the bills in the short term, Kwarteng said: “Absolutely. People here really want to see new investment, jobs, opportunities for their children and their community.”
He added: “It may have a small effect, but if we’re talking, if you look at the hydrogen tax, we’re talking about £30, on a bill over a year old.
“Let’s see what schemes come up. I mean, I don’t know, we have this… Enabling Fund which is £120 million and that’s to bring billions of capital into this country. But I can’t tell you exactly at what point They will make those investments.
“Any UK energy minister has to look at homeland security, and that’s what nuclear power is all about, and also sustainability. There is no doubt that in the medium term it will give us cheaper energy.
“Now, I can’t tell you a precise date when your bills will be lower, because there are all kinds of other factors that determine the price. We could be in a world in five years where oil prices or gasoline prices are much higher.” higher than it is, it could be much lower, I can’t predict that. But what I can say is that nuclear power gives us steady, decarbonised, continuous electricity that is either grown here or sourced here in the UK.”