Energy Secretary Ed Miliband (Image: Getty)
Ed Miliband could be about to send energy bills soaring - as he confirms plans for new major nuclear projects in the UK.
The Energy and Net Zero Secretary has said nuclear power is vital for Labour's Net Zero plans, and that his 'door is open' to tech companies hoping to build 'modular' reactors in Britain.
DON'T MISS
Powered by
Urgent warning issued to anyone with wood burning stove
11 Comments
Exposed: Rachel Reeves and Sadiq Khan endorsed Just Stop Oil activist's climate report
67 Comments
Angela Rayner declares war on NIMBYs as councils ordered to build 1.5 million homes
201 Comments
Ed Miliband is fast-resembling a cult leader - only no-one cares what he says
108 Comments
Now Ed Miliband shoots Rachel Reeves in the foot! When will this Labour madness end?
301 Comments
Keir Starmer ‘to seek foreign investment' for UK nuclear project
213 Comments
Monster 50ft Christmas tree planted in 1979 becomes hit tourist attraction
Comments
The tiny island feared to be at the centre of China's nuclear arms race
3 Comments
Keir Starmer and Rachel Reeves are making one key mistake on economy
69 Comments
OVO Energy boss assures state pensioners 'it's on us' after ￡300 Winter Fuel Payment lost
Comments
Britons expect to be hit with surging energy bills 'raising questions about net zero'
88 Comments
Now Rachel Reeves shoots Starmer in foot as economic slump sinks Labour relaunch
641 Comments
Full list of people eligible for ￡150 Warm Homes Discount
9 Comments
The ￡1.6bn 'eco-district' built into the sea that expanded Europe microstate's size by 3%
1 Comments
Ed Miliband bleats about Net Zero but snubs our best chance of energy security
68 Comments
Major milestone in ￡46bn megaproject to build UK's first nuclear power station in 30 years
6 Comments
Disaster for Ed Miliband as bill for cleaning up old nuclear sites balloons to ￡130bn
89 Comments
Fury as Labour's new GB Energy hires GERMAN company to build UK's biggest solar farm
206 Comments
Brits set to be offered free electricity - but there's one big catch
98 Comments
Kier - this is utterly ridiculous! Bin your pointless lists and do some governing
273 Comments
Urgent warning issued to anyone with wood burning stove
11 Comments
Exposed: Rachel Reeves and Sadiq Khan endorsed Just Stop Oil activist's climate report
67 Comments
Angela Rayner declares war on NIMBYs as councils ordered to build 1.5 million homes
201 Comments
Ed Miliband is fast-resembling a cult leader - only no-one cares what he says
108 Comments
Now Ed Miliband shoots Rachel Reeves in the foot! When will this Labour madness end?
301 Comments
Keir Starmer ‘to seek foreign investment' for UK nuclear project
213 Comments
Monster 50ft Christmas tree planted in 1979 becomes hit tourist attraction
Comments
The tiny island feared to be at the centre of China's nuclear arms race
3 Comments
Keir Starmer and Rachel Reeves are making one key mistake on economy
69 Comments
OVO Energy boss assures state pensioners 'it's on us' after ￡300 Winter Fuel Payment lost
Comments
Britons expect to be hit with surging energy bills 'raising questions about net zero'
88 Comments
Now Rachel Reeves shoots Starmer in foot as economic slump sinks Labour relaunch
641 Comments
Full list of people eligible for ￡150 Warm Homes Discount
9 Comments
The ￡1.6bn 'eco-district' built into the sea that expanded Europe microstate's size by 3%
1 Comments
Ed Miliband bleats about Net Zero but snubs our best chance of energy security
68 Comments
Major milestone in ￡46bn megaproject to build UK's first nuclear power station in 30 years
6 Comments
Disaster for Ed Miliband as bill for cleaning up old nuclear sites balloons to ￡130bn
89 Comments
Fury as Labour's new GB Energy hires GERMAN company to build UK's biggest solar farm
206 Comments
Brits set to be offered free electricity - but there's one big catch
98 Comments
Kier - this is utterly ridiculous! Bin your pointless lists and do some governing
273 Comments
Urgent warning issued to anyone with wood burning stove
11 Comments
Exposed: Rachel Reeves and Sadiq Khan endorsed Just Stop Oil activist's climate report
67 Comments
Angela Rayner declares war on NIMBYs as councils ordered to build 1.5 million homes
201 Comments
Ed Miliband is fast-resembling a cult leader - only no-one cares what he says
108 Comments
Now Ed Miliband shoots Rachel Reeves in the foot! When will this Labour madness end?
301 Comments
Keir Starmer ‘to seek foreign investment' for UK nuclear project
213 Comments
Monster 50ft Christmas tree planted in 1979 becomes hit tourist attraction
Comments
Mr Miliband has argued these projects could deliver 'big returns' for the country, and said the Government is exploring how it can help private developers bring advanced nuclear projects to market and ia consulting on a new nuclear planning framework and siting policy next year.
However, bosses at interested firms are reportedly calling for some assurance of financial support to make sure their projects get a minimum return.
While it is currently unclear precisely how these would be funded, the Telegraph reports that options include 'regulated asset base scheme' or contracts for difference that are currently awarded to wind and solar farms.
READ MORE: Keep energy bills low and your house warm with simple radiator tip
Four nuclear power plants are set to have their lives expanded (Image: Getty)
Get the latest politics news straight to your phone Join us on WhatsApp Our community members are treated to special offers, promotions, and adverts from us and our partners. You can check out at any time. Read our Privacy Policy
The 'regulated asset base' scheme allows investors to begin clawing costs back via customer bills before a project is completed - leading to concerns people could be hit in the pocket.
Speaking at the Nuclear Industry Association’s Nuclear 2024 conference on Thursday, Mr Miliband said: “Of course, it’s early days but we should be open to the potential of SMRs to power the fourth industrial revolution, just as coal powered the first.
“My message is clear: if you want to build a nuclear project in Britain, my door is open. My department is listening.
“We want all your ideas for projects that can work and provide value for money.”
Don't miss...
Households handed up to ￡440 in new cost of living payments - check eligibility [LATEST]
Brits set to be offered free electricity to mellow resistance to Labour plans [LATEST]
'I tried a tiny ￡12.99 heater that packs a powerful punch' [LATEST]
Torness nuclear power plant (Image: Getty)
Trending
SUBSCRIBE Invalid email
We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. Read our Privacy Policy
Great British Nuclear, a public body which helps bring forward new nuclear energy projects, has started negotiations with four bidders for the UK’s small modular reactor programme, and final decisions are due in spring.
DON'T MISS
Powered by
Urgent warning issued to anyone with wood burning stove
11 Comments
Exposed: Rachel Reeves and Sadiq Khan endorsed Just Stop Oil activist's climate report
67 Comments
Angela Rayner declares war on NIMBYs as councils ordered to build 1.5 million homes
201 Comments
Ed Miliband is fast-resembling a cult leader - only no-one cares what he says
108 Comments
Now Ed Miliband shoots Rachel Reeves in the foot! When will this Labour madness end?
301 Comments
Keir Starmer ‘to seek foreign investment' for UK nuclear project
213 Comments
Monster 50ft Christmas tree planted in 1979 becomes hit tourist attraction
Comments
The tiny island feared to be at the centre of China's nuclear arms race
3 Comments
Keir Starmer and Rachel Reeves are making one key mistake on economy
69 Comments
OVO Energy boss assures state pensioners 'it's on us' after ￡300 Winter Fuel Payment lost
Comments
Britons expect to be hit with surging energy bills 'raising questions about net zero'
88 Comments
Now Rachel Reeves shoots Starmer in foot as economic slump sinks Labour relaunch
641 Comments
Full list of people eligible for ￡150 Warm Homes Discount
9 Comments
The ￡1.6bn 'eco-district' built into the sea that expanded Europe microstate's size by 3%
1 Comments
Ed Miliband bleats about Net Zero but snubs our best chance of energy security
68 Comments
Major milestone in ￡46bn megaproject to build UK's first nuclear power station in 30 years
6 Comments
Disaster for Ed Miliband as bill for cleaning up old nuclear sites balloons to ￡130bn
89 Comments
Fury as Labour's new GB Energy hires GERMAN company to build UK's biggest solar farm
206 Comments
Brits set to be offered free electricity - but there's one big catch
98 Comments
Kier - this is utterly ridiculous! Bin your pointless lists and do some governing
273 Comments
Urgent warning issued to anyone with wood burning stove
11 Comments
Exposed: Rachel Reeves and Sadiq Khan endorsed Just Stop Oil activist's climate report
67 Comments
Angela Rayner declares war on NIMBYs as councils ordered to build 1.5 million homes
201 Comments
Ed Miliband is fast-resembling a cult leader - only no-one cares what he says
108 Comments
Now Ed Miliband shoots Rachel Reeves in the foot! When will this Labour madness end?
301 Comments
Keir Starmer ‘to seek foreign investment' for UK nuclear project
213 Comments
Monster 50ft Christmas tree planted in 1979 becomes hit tourist attraction
Comments
The tiny island feared to be at the centre of China's nuclear arms race
3 Comments
Keir Starmer and Rachel Reeves are making one key mistake on economy
69 Comments
OVO Energy boss assures state pensioners 'it's on us' after ￡300 Winter Fuel Payment lost
Comments
Britons expect to be hit with surging energy bills 'raising questions about net zero'
88 Comments
Now Rachel Reeves shoots Starmer in foot as economic slump sinks Labour relaunch
641 Comments
Full list of people eligible for ￡150 Warm Homes Discount
9 Comments
The ￡1.6bn 'eco-district' built into the sea that expanded Europe microstate's size by 3%
1 Comments
Ed Miliband bleats about Net Zero but snubs our best chance of energy security
68 Comments
Major milestone in ￡46bn megaproject to build UK's first nuclear power station in 30 years
6 Comments
Disaster for Ed Miliband as bill for cleaning up old nuclear sites balloons to ￡130bn
89 Comments
Fury as Labour's new GB Energy hires GERMAN company to build UK's biggest solar farm
206 Comments
Brits set to be offered free electricity - but there's one big catch
98 Comments
Kier - this is utterly ridiculous! Bin your pointless lists and do some governing
273 Comments
Urgent warning issued to anyone with wood burning stove
11 Comments
Exposed: Rachel Reeves and Sadiq Khan endorsed Just Stop Oil activist's climate report
67 Comments
Angela Rayner declares war on NIMBYs as councils ordered to build 1.5 million homes
201 Comments
Ed Miliband is fast-resembling a cult leader - only no-one cares what he says
108 Comments
Now Ed Miliband shoots Rachel Reeves in the foot! When will this Labour madness end?
301 Comments
Keir Starmer ‘to seek foreign investment' for UK nuclear project
213 Comments
Monster 50ft Christmas tree planted in 1979 becomes hit tourist attraction
Comments
Mr Miliband he was “delighted” that four of Britain’s five nuclear power stations will stay open longer than previously planned, as announced by their operator EDF.
Heysham Two, in Lancashire, and Torness in East Lothian will keep producing electricity for an extra two years until March 2030, while Heysham One and another station in Hartlepool, north-east England, will produce power until March 2027, a year extension.