British workers are set to gain from a new era of nuclear power as the government signs a significant agreement with Czechia, marking the beginning of the UK’s golden age of nuclear energy and securing high-skilled jobs.

Source: GOV UK

Landmark Agreement

Today's agreement, to be signed by Prime Minister Keir Starmer and Czech Prime Minister Petr Fiala at Downing Street, will open doors for industrial collaboration. It also presents the potential for the UK and Czechia to export small modular reactors to other European countries.

• This partnership will facilitate the construction of up to six new reactors in Czechia by Rolls-Royce SMR, with a projected value in the billions.
• Last year, Rolls-Royce SMR and Czechia's largest public company, ČEZ, formed a partnership on SMR, with ČEZ acquiring a 20% stake.

Strengthening Trade Links

The leaders will also conduct a business roundtable during their visit to enhance trade and investment ties between the UK and Czechia, benefiting working people.

Increasing nuclear capacity will bolster the UK’s energy security, aligning with the government’s mission to safeguard family finances by reducing reliance on fossil fuel markets controlled by authoritarian regimes, and transitioning to clean, domestically controlled power.

Advantages of Small Modular Reactors

Small modular reactors (SMRs) are designed to be smaller and quicker to construct than traditional nuclear plants. As production scales up, costs are expected to decrease, providing clean, homegrown energy for British consumers.

The government’s clean energy initiative is essential for achieving energy security, lowering bills, and creating quality jobs across the nation. Investment in this sector has already surged, with over £40 billion in private investment in clean energy announced since last July.

According to the International Energy Agency, the global SMR market could reach nearly £500 billion by 2050. Today's announcement positions the UK and Czechia as frontrunners in the international race to innovate and export new nuclear technology.

Future Prospects

This agreement follows Rolls-Royce SMR being chosen as the preferred bidder to collaborate with Great British Energy – Nuclear for the development of small modular reactors, pending final government approvals. This partnership heralds a new golden age for nuclear energy in the UK.

As part of the government's modern Industrial Strategy aimed at revitalizing Britain's industrial sectors, over £2.5 billion has been pledged for the small modular reactor program. This initiative could lead to the creation of up to 3,000 new skilled jobs and provide clean, secure energy for approximately 3 million homes.

Great British Energy - Nuclear plans to designate a site later this year and connect projects to the grid by the mid-2030s. Once small modular reactors and Sizewell C come online in the 2030s, along with the new facility at Hinkley Point C, the UK will experience more nuclear energy output than in the past fifty years.

Last week, during President Macron’s State Visit to the UK, French energy giant EDF announced it would take a 12.5% stake in Sizewell C, bringing the project closer to approval. At peak construction, Sizewell C is expected to support 10,000 jobs, with thousands more in the national supply chain and 1,500 apprenticeships created.