LONDON (ShareCast) - (Sharecast News) - Rolls-Royce has been selected to build small modular nuclear reactors in the UK, after a competition run by the government to reduce Britain's reliance on fossil fuels.


Great British Energy on Tuesday announced Rolls preferred bidder for the programme. The announcement was made as the government pledged £14.2bn to build the large Sizewell C power station in Suffolk.

Nuclear power is expected to feature heavily in Finance Minister Rachel Reeves' spending review tomorrow, amid embarrassment over the U-turn to axe winter fuel payments for pensioners and arguments over funding for police forces around the country.

Rolls beat competition from the US companies Holtec and GE Hitachi, while the Canadian-owned Westinghouse withdrew from the competition earlier.

"The truth is that we have this massive challenge to get off fossil fuels. That is the central driving ambition of the government's clean energy superpower mission. We know that we're going to have to see electricity demand at least double, by 2050," said Energy Secretary Ed Miliband.

"All of the expert advice says nuclear has a really important role to play in the energy system. In any sensible reckoning, this is essential to get to our clean power and net zero ambitions."

Reporting by Frank Prenesti for Sharecast.com

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