The Minister of Economic Affairs has said that the government’s pursuit of nuclear energy could initially increase energy bills.
wasi Kwarteng said the plan to build new power plants as part of a new energy strategy could have a “minor effect” on bills.
But he told the BBC “nuclear is back on the table” because the government sees it as a renewable energy source, adding that it would eventually provide cheaper power.
This investment will unlock the huge potential of hydrogen fuel, advanced nuclear reactors and carbon capture to improve the UK energy landscape and deliver it to businesses and households.Company and Energy Secretary Kwasi Kwarteng
The energy strategy was published in April as Western countries grappled with high energy prices, reliance on Russian oil and gas and wider calls to end the fossil fuel era to tackle climate change.
A fleet of new nuclear power plants is at the heart of the strategy, with the prime minister suggesting that a new reactor will be built every year, in a social media video to promote the plan.
As part of a target to decarbonise 95% of electricity by 2030, the strategy aims to produce up to 50 GW of offshore wind energy by 2030, which officials say would be more than enough to power every home in the UK. to provide.
The strategy also includes a goal to double the target of 10 GW of low-carbon hydrogen production by 2030, with at least half of “green” hydrogen produced from renewable electricity rather than natural gas.
A multimillion-pound package was later announced to help support the government’s ‘daring plans’.
Mr Kwarteng said the £375 million investment will unlock “the enormous potential” of hydrogen and nuclear power.
Boris Johnson has tried to defend the new energy strategy in the face of criticism, it does nothing to help those with rising bills now.
He has said the strategy – which aims to boost new nuclear, offshore wind and hydrogen – is a long-term plan that focuses on energy supply, “undo the mistakes of the past and make the big decisions now”.
He said the government is “already doing a tremendous amount to help people with the direct cost of living and of course we are going to do more”.