Industry Analysis & Industry Trends
This industry produces nuclear fuel for use in power stations by either processing new material or reprocessing spent fuel. Activity is highly regulated due to health, safety and environmental concerns. The industry, which consists of just three firms, is expected to generate revenue of about £2.76 billion in 2011-12, compared with £2.09 million in 2006-07, yielding average annual growth of about 5.7%. The growth reflects higher contract nuclear fuel prices over this period, although industry output has also grown due largely to the recommencement of operations at the Sellafield site. Industry revenue is expected to expand by about 4.0% in 2011-12, reflecting growing demand for nuclear fuel.
The industry is expected to produce about.. purchase to read more
Industry Report - Starting a New Business Chapter
Barriers to entry into this industry are extremely high and consist mainly of regulation that aims to protect the community and the environment from radiation. Firms must comply with both UK and international regulations relating to nuclear material.
Under the Nuclear Installations Act 1965 (NIA), a site cannot have nuclear plant on it, including fuel processing facilities, unless the user has been granted a site licence by the Health and Safety Executive (HSE). Under the NIA, licences are only granted to corporations and licensing is handled by Office for Nuclear Regulation (ONR) on behalf of HSE. The licences set out the general safety requirements for dealing with risks on a nuclear site... purchase to read more