Rolls-Royce is fighting to accelerate the deployment of mini nuclear reactors Business

The scheme hit a major milestone this week after Kwasi Kwarteng, the business secretary, asked government regulators to assess Rolls’ designs.

Britons are bracing for energy bills to hit nearly £2,000 a year from April 1 when the price cap rises, with further rises on the horizon if oil and gas prices stay students. Petrol hit a new high of £1.61 a liter on Thursday, with diesel at £1.70 a litre.

Rolls can receive help to expedite the selection of suitable locations managed by the Nuclear Decommissioning Authority, which manages the sites of defunct nuclear power plants. Smaller reactors can be placed there and take advantage of access to the electricity grid, existing security and a skilled workforce.

The government is backing the program and has provided the project with £210million in funding, but security requirements are expected to win out in terms of speed of deployment.

It has also set up the £120m Future Nuclear Enabling Fund which will be used to support new innovations.

Proponents of a faster deployment point to the United Arab Emirates, who expressed interest in nuclear generation in 2008 and began construction of the Korean-designed Barakah nuclear power plant in 2012, with the first power supply supplied to the network in 2020.

A BEIS spokesperson said: “Small modular reactors offer exciting opportunities to cut costs and build faster, ensuring we can bring clean electricity to homes and reduce our exposure to volatile gas prices.

“Although small modular reactors do not yet exist, countries around the world are racing to develop the technology. Rolls-Royce has confirmed that SMRs will be available on the UK network in the early 2030s and we are working to their timetable. , having already committed £210million in government funding.

Rolls declined to comment.