Perspectives of nuclear power in the UK : the view of a utility

Nuclear energy is back on the agenda in UK due to the discussion about climate change and security of supply. First, the UK has to face up to the challenges of reducing its greenhouse gas emissions. The UK Government has adopted a clear leadership position on climate change internationally. Second, UK ist facing some fundamental questions about the future security of the energy supplies. The decline of UKs' gas reserves in the North Sea is bringing to an end the years in which the UK could afford to be relatively relaxed energy and energy policy almost took care of itself. We are expecting the next major milestone with the UK Government due to publish an "Energy White Paper". Alongside that document they are also due to launch a new consultation on nuclear power and whether it should have a role in the UK market. For investment in nuclear to be a credible economic option for investors a number of issues will need to be addressed by the UK Government. These issues include the public and political acceptance, the management of the waste by the Government, and an efficient regulatory and licensing framework for new plants. Two words should be addressed to the UK Government at the moment - urgency and partnership. Urgency - because we desperately need to see progress on energy policy over the next 12 months. It is 5 minutes to midnight and the clock is ticking. Partnership - because investors are ready to make the necessary investments but we need in the UK the long-term policy framework that will underpin and support the scale of the investment we need to see.