For 65 years, nuclear power has been an integral part of the UK’s electricity system, providing low carbon  and reliable power to UK homes, public services and businesses. This Delivering Value report presents,  for the first time since 2017, a comprehensive study of the contribution the UK civil industry makes to our  economy, thanks to independent analysis undertaken by Oxford Economics. 

In 2021 the UK’s civil nuclear sector generated £6.1 billion in GDP for the UK economy—around twice as much  as the air transport industry. When the indirect impact of the sector’s activity is considered, this figure more  than doubles to £16.1 billion. The civil nuclear sector is a vital job creator: more than 64,000 people are directly  employed and 211,000 jobs are reliant in some way on its activities. These figures alone show the vital economic  contribution of the sector which reaches all parts of the country and the highly skilled advanced engineering  which underpins the industry. Nuclear remains a vital part of the electricity mix, but there is work to be done.

Around 15% of total electricity produced in Britain comes from nuclear power, down from around a fifth in 2016. 

It is the second largest source of low carbon electricity in the UK, providing a backbone of firm, clean power  alongside renewables. However, with two thirds of all dispatchable power capacity retiring by 2030, including all  but one of our current nuclear stations, this will need to the replaced and expanded with a new nuclear fleet to  continue providing the reliable, low carbon power the UK will need if it is to keep the lights on and hit net zero.

There is much work to be done. The vision of Great British Nuclear, set out in the Government’s Energy Security  Strategy, could signal the start of a new atomic age for Britain and ensure we keep pace with other leading  nuclear nations, but we need to act urgently so we can seize this generational opportunity to drive innovation,  boost productivity, and cut costs.

New build projects bring unprecedented economic benefits and can revolutionise the life chances of people in  nearby communities: Hinkley Point C alone has delivered more than £4 billion of investment into the South West,  and more than 8,000 people are now working on site. Coupled with the progress being made in decommissioning,  projects like this have helped develop UK industrial skills and capabilities across the supply chain. We also have a  significant opportunity for the sector to be world leaders in the development of Small Modular Reactors, a global  market which could be worth hundreds of billions of pounds.

This report demonstrates the importance of the UK’s civil nuclear sector and through continued investment in  people, plant and products it will be well placed to continue to develop its supply chains and opportunities for  the long term.