EDF: New UK nuclear power plants could boost economy

10/07/2012 11:00 Electricity Market

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Government policy to promote a new generation of nuclear power plants could boost the UK economy by more than £ 5 billion and add more than 32,000 jobs, as well as creating new export markets if the country continues the development of nuclear, according a report commissioned by EDF Energy.

EDF decided to build four nuclear plants in Somerset and Suffolk by the end of 2012 with a combined output of 6.4 GW, enough to power ten million homes. The UK government is trying to attract nuclear investors by reforming its electricity market so as it could guarantee a lower price for producers of low-carbon energy. To meet its energy and climate targets, Britain will need about 18 GW of non renewable power capacity, including nuclear, by 2025.The UK electricity export revenues could double to £ 1.2- 1.7 bln per year by 2030, if the government makes a viable long-term commitment to nuclear energy and if it is supported by all parties.

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Germany caps green power levy with $12.5 billion injection after record EEG deficit

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EDF plans to announce new EPR nuclear reactor by mid-2021

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