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Nuclear fission can play a key part in the energy system of the UK having the potential to help the UK replace aging power plants, reduce reliance on gas, and meet greenhouse gas (GHG) emissions and low carbon energy targets. Innovation can reduce the costs of deploying, operating and decommissioning nuclear capacity and is also important in reducing the perceived risks of investing in, for example, the UK’s new build programme. We assess that innovation has the potential to deliver benefits worth £3.7-13.5 billion (bn)1 to 2050. Innovation can also help create UK and export based business opportunities that could contribute an estimated cumulative £18.4-33.9bn2 in discounted Gross Value Added (GVA) by 2050 and support c.50-120k direct jobs in 2050.
1 Cumulative present discounted values (2015-2050).
This TINA was updated and agreed by the LCICG in February 2016.