The UK should build new nuclear power stations and scale up carbon capture technology and infrastructure to reach the Government’s target of net-zero greenhouse gas emissions by 2050, according to the CBI.
In a letter to the Secretary of State for Business, Energy and Industrial Strategy, Britain’s largest business group sets out a series of priorities to decarbonise the UK economy and calls on the Government to use a forthcoming Energy White Paper to give more clarity on its vision.
The Wylfa Newydd development on Anglesey was halted by Hitachi in January due to a failure to reach a suitable funding agreement with the UK Government.
The CBI priorities include:
- Progressing large-scale nuclear projects and supporting innovative nuclear technologies, such as Small Modular Reactors (currently being considered at Trawsfynydd).
- Technology trials to determine the best, localised solutions to fully decarbonise heat in homes, offices and industrial processes.
- A clear mix of incentives for consumers and businesses to buy electric and hydrogen-powered vehicles, alongside comprehensive nationwide infrastructure ready for future demand.
- Rationalising the tax and business rates system to ensure green energy is encouraged, not penalised.
Rain Newton-Smith, CBI Chief Economist, said: “Firms want to see a whole host of stable, long-term policies enacted – from building new nuclear power stations to scaling-up carbon capture and storage technology and infrastructure – that send markets a robust signal: the UK is open for green business, and is a world leader in tackling climate change."
