Government’s Nuclear Power Push May Initially Increase Energy Bills: UK Business Secretary

A crane moves building materials into the circular reinforced concrete and steel home of a reactor at Nuclear Island 1, at Hinkley Point C nuclear power plant near Bridgwater in Somerset, England on Sept. 23, 2021. Ben Birchall/PA

The UK’s ambitious plans to ramp up nuclear power, announced last month, may lead to a hike in household bills according to the Business Secretary.

The government announced a new UK Future Nuclear Enabling Fund (FNEF) of £120 million ($146 million) on May 13 that will help to “mature potential nuclear projects ahead of any government process to select the next nuclear projects.”