Six companies, including industry leaders like EDF, Rolls Royce, and GE-Hitachi Nuclear Energy International LLC, have been chosen to move forward in the Small Modular Reactor (SMR) competition. The UK government aims to revitalize nuclear power and intends for up to 25% of the country's electricity to be generated from nuclear power by 2050.

SMRs differ from conventional nuclear reactors due to their smaller size and factory-based production. This technology is expected to streamline power station construction, making it faster and more cost-effective. The government, along with Great British Nuclear, a government-backed entity focused on nuclear projects, believes that the selected designs have the potential to deliver operational SMRs by the mid-2030s.

The next phase of the competition will be launched soon, allowing the chosen companies to bid for government contracts. The government aims to announce government-supported firms in Spring 2024, with contracts awarded by Summer 2024.

In addition to supporting SMRs, the government is investing in large-scale projects like Sizewell C, which is similar to Hinkley Point C, the first nuclear plant constructed in the UK in over a generation.

Energy Security Secretary Claire Coutinho stated that SMRs will enable the UK to expand its nuclear power capacity rapidly, providing cheaper, cleaner, and more secure energy while creating high-skilled jobs and fostering economic growth. The competition positions the UK as a global leader in nuclear innovation.