274. The main barrier for new nuclear projects is the need for stable, long-term policy and funding commitments given the long timeframes involved in the building of nuclear plants. The high up-front costs generally require government involvement to make investments attractive and cost competitive. Stakeholders responding to the Review pointed out that a long-
275. Businesses highlighted the need for Great British Nuclear to be set up as soon as possible and for its role to be confirmed. They also suggested that Great British Nuclear (GBN) could help in understanding the timings of different projects so that any supply chain and skills pinch points could be identified early, allowing for coordinated action to prevent bottlenecks (see below). EDF for example highlighted that:
"GBN can help bring forward nuclear projects by developing a 'programmatic' approach to nuclear with a long-term strategy ensuring appropriate focus on, and timely identification and resolution of, key issues related to new nuclear development".223
276. Referring to the Government's commitments in the British Energy Security Strategy, participants to the Review's nuclear roundtable also stated the need for a clear government siting strategy, starting from existing sites. Similarly, commitments on funding would need to be maintained.
277. The Review therefore recommends expediting the set-up of Great British Nuclear in early 2023, ensuring the funding and skills required for Great British Nuclear to deliver on its role are in place as soon as possible. In order to provide more investment certainty, the Government and Great British Nuclear will need to set out as soon as possible in 2023 a clear roadmap with interim targets and details of how the 2050 ambition are to be met, with pathways for different technologies. They will also need to deliver on a siting strategy.