Industry Analysis & Industry Trends
This industry produces nuclear fuel for use in power stations by processing new material or reprocessing spent fuel. Due to the considerable health, safety and environmental concerns associated with the industry, operators are highly regulated by both the Euratom Supply Agency (ESA) and by the UK government. The industry, which is dominated by just three firms, is expected to generate revenue of £717.3 million in 2016-17. Revenue is estimated to contract at a compound annual rate of 0.5% over the five years through 2016-17. In 2016-17, revenue is expected to grow by 3.6%, supported by a rise in exports due to the depreciation of the pound.
The Nuclear Fuel Processing industry handles fuel rod fabrication... 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 a 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. Com.. purchase to read more