 | |
| Company type | Government-ownedprivate company limited by shares |
|---|---|
| Industry | Nuclear |
| Predecessor | United Kingdom Atomic Energy Authority Production Division |
| Founded | 1971; 54 years ago (1971) |
| Fate | Assets sold off initially, resurrected as GBN in 2023 |
| Successors |
|
| Headquarters | Warrington, United Kingdom |
Key people | Gwen Parry-Jones, CEO |
| Parent | Government of the United Kingdom |
| Divisions | Nuclear Sciences and Technology Services |
| Subsidiaries |
|
| Website | www |
Great British Energy – Nuclear (GBE-N)[1] is anuclear energy andfuels company owned by theUK Government. It is anon-departmental public body sponsored by theDepartment for Energy Security and Net Zero.[2]
From its creation asBritish Nuclear Fuels Limited (BNFL) in 1971 to 2010, it functioned as a manufacturer of nuclear fuel (notablyMOX), ran reactors, generated and sold electricity, reprocessed and managed spent fuel (mainly atSellafield), and decommissioned nuclear plants and other similar facilities.
It was resurrected in July 2023 under thetrading nameGreat British Nuclear, to coordinate theUK nuclear industry to help achieve government net-zero targets.[3] The company formally changed its name to Great British Energy – Nuclear on 20 March 2024.[4]
British Nuclear Fuels Limited (BNFL) was set up in February 1971 from the demerger of the production division of theUK Atomic Energy Authority (UKAEA). In 1984, BNFL became apublic limited company as British Nuclear Fuels plc, wholly owned by the UK government.
Its US subsidiary BNFL, Inc. was established in 1990 and specialised in decontamination and decommissioning of nuclear sites.
In 1996, sevenadvanced gas-cooled reactors (AGR) and onepressurised water reactor (PWR) were privatised asBritish Energy, raising £2.1 billion.[5] The oldest reactors, theMagnox sites, were not attractive for commercial operations and remained in public ownership asMagnox Electric. On 30 January 1998, Magnox Electric was merged into BNFL as BNFL Magnox Generation.[6][7]
In 1999, it was discovered that BNFL staff had been falsifying someMOX fuel quality assurance data since 1996.[8] ANuclear Installations Inspectorate (NII) investigation concluded that "the level of control and supervision ... had been virtually non-existent."[9] BNFL had to pay compensation to the Japanese customer,Kansai Electric, and take back a flawed shipment of MOX fuel from Japan.[10] BNFL's Chief Executive John Taylor resigned,[11] after initially resisting resignation when the NII's damning report was published.[12][13]
As a consequence of this crisis, a possible partial privatisation of BNFL was delayed by two years.[14][15][16]
In 1999, BNFL acquiredWestinghouse Electric Company, the commercial nuclear power businesses ofCBS (Westinghouse acquired CBS in 1995 and reoriented itself as a broadcaster), for $1.1 billion. Westinghouse's businesses are fuel manufacture, decommissioning of nuclear sites and reactor design, construction and servicing.[17] Westinghouse was acquired as a possible core for the privatisation of a portion of BNFL.[18]
In 2000, BNFL also purchased the nuclear businesses ofABB for £300 million. This company, which was merged into Westinghouse, had nuclear interests in the United States, Europe and Asia.[19] In June 2000, BNFL took a 22.5% stake inPebble Bed Modular Reactor (Pty) Ltd in South Africa.[20]
In January 2003, the research and development arm of BNFL was relaunched as Nuclear Sciences and Technology Services (NSTS).
However, BNFL's financial difficulties increased, and the prospect of partial privatisation diminished.[18][21][22]
On 1 April 2005, the company was reorganised as part of the restructuring of the wider nuclear industry. BNFL becameBritish Nuclear Group (BNG) and a new holding company was established and adopted the British Nuclear Fuels name.[23] This new BNFL operated largely through its major subsidiaries of Westinghouse and BNG as well asNexia Solutions, its commercial nuclear technology business formed out of NSTS.[24]
TheNuclear Decommissioning Authority (NDA) was established on 1 April 2005 and took ownership of all of BNFL's nuclear sites, including theSellafield site. The NDA then opened up the decommissioning of the different sites to tender to drive down costs. BNFL became one of a number of decommissioning contractors through BNG. BNFL's nuclear waste transfer companies,Direct Rail Services andInternational Nuclear Services, were also both transferred to the NDA.[25]
On 19 April 2005, BNFL, Inc. was renamed BNG America and made a subsidiary of BNG.[26]
In July 2005, BNFL confirmed it planned to sell Westinghouse, then estimated to be worth US$1.8 billion (£1bn). However the bid attracted interest from several companies, includingToshiba,General Electric andMitsubishi Heavy Industries and when theFinancial Times reported on 23 January 2006 that Toshiba had won the bid, it valued the company's offer at US$5bn (£2.8bn).[27] On 6 February 2006, Toshiba confirmed it was buying Westinghouse Electric Company for $5.4bn and announced it would sell a minority stake to investors.[17][28]
On 3 February 2006, BNFL announced it had agreed to sell BNG America toEnvirocare to formEnergySolutions.[29]
In March 2006, BNFL announced its intention to sell BNG. With the sale of Westinghouse, BNG America and BNG this was to effectively bring BNFL to an end. Mike Parker, CEO of BNFL, said: "By the end of 2007... there will be little need for the BNFL corporate centre from this time".[30] On 22 August 2006, BNFL announced that instead of selling BNG as a going concern it would instead sell it off piece by piece.[31]
In January 2007, BNFL announced that it would sell BNG'sMagnox reactor sites operating business,Reactor Sites Management Company Ltd.[32] It was later sold in June 2007, along with its subsidiary that held the operating contracts with the NDA,Magnox Electric, toEnergySolutions.[33][34] All UK Magnox power stations were due to cease operation by the end of 2015.
BNG Project Services, BNG's specialist nuclear consulting business, was sold in January 2008 toVT Group, which was itself later acquired in 2010 byBabcock International Group.[citation needed]
BNG was renamedSellafield Ltd and became the NDA's Site Licence Company (SLC) for the decommissioning contract at Sellafield. In November 2008, the NDA contracted the management of Sellafield Ltd to Nuclear Management Partners Ltd, a consortium ofURS,AMEC andAreva.[35]
In July 2006, the UK Government stated its intention to preserve and develop key research and development capabilities potentially as part of aNational Nuclear Laboratory (NNL). In October 2006,Secretary of State for Trade and Industry,Alistair Darling confirmed the NNL would be formed out ofNexia Solutions and the British Technology Centre at Sellafield.[36] The NNL was launched in July 2008 as a Government-owned company, and initially was managed under contract by a consortium ofSerco,Battelle and theUniversity of Manchester; this is known as a GOCO (Government-Owned, Contractor-Operated) arrangement.[37]
Control of BNFL's one third stake inUrenco was transferred to theShareholder Executive in April 2008 through Enrichment Holdings Ltd while the government explored the possibility of selling the stake.[38]
BNFL's one third stake of AWE Management Ltd was sold toJacobs Engineering Group in December 2008.[39]AWE is responsible for the support and manufacturing of the UK's nuclear deterrent.
As BNFL was wound down it was converted back to a privatelimited company on 31 December 2008 and regained its original name, British Nuclear Fuels Limited.[40] The final sale transactions for BNFL's former businesses were completed in May 2009.
Despite this, the company itself was not wound up and continued as a legal entity.[4]
In February 2023, plans to wind up the company within two years were still active. By this point the company had not traded in 13 years.[41]
However, on 18 July 2023, BNFL was resurrected as Great British Nuclear, with the aim of delivering the government's long-term nuclear programme and supporting its ambition to deliver up to 24 GW of nuclear power in the UK by 2050.[3] Great British Nuclear is running asmall modular reactor (SMR) competition which will place between one and four co-funding contracts in late 2024, supporting the development and regulatory approval process, to prepare bids for a SMR final investment decision in 2029.[42]
In March 2024, Great British Nuclear bought theOldbury andWylfa sites fromHorizon in a deal worth £160 million.[43][44]
In June 2025, Great British Nuclear was renamed as Great British Energy – Nuclear.[45]
The Guardian reported the renaming was to enable £2.5 billion ofGreat British Energy's budget to be transferred to the nuclear industry forsmall modular reactor development in a way compatible withLabour Party 2024 manifesto promises.[46]
GBN is led by Gwen Parry-Jones as interimchief executive officer, who was formerly the CEO ofMagnox Ltd.[47]
Its chair is Simon Bowen.[48]
BNFL formerly had operations at 18 sites in the UK:
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The former BNFL logotype was created in 1996 by Lloyd Northover, the British design consultancy founded byJohn Lloyd and Jim Northover.
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