Nuclear Energy

Lord Broers Excerpts

Monday 10th December 2018 Lords Chamber

[Lord Broers (CB)]

My Lords, I declare my interest as a foreign member of the Chinese Academy of Engineering. I am somewhat encouraged by what the Minister said because, in the situation we find ourselves in now, where storage of carbon dioxide is not going well—we have made scarcely any progress—and it is now obvious that batteries are far too expensive to back up wind on a national scale, we are left with nuclear, so it is extremely important that we proceed as quickly as possible. I have to admit that when I talk to Chinese engineers they feel that if we replicate an EPR we can do it at 30% less money than the initial venture, which means that if we combine that with the cost of wind properly backed up, which is about £60 per megawatt hour, we can do the same with nuclear. So should we not get on with all speed, but maximising our own contribution by including the small modular reactor?

[Lord Henley]

My Lords, there was an awful lot to answer in the noble Lord’s question, but I think he is right to emphasise the importance of nuclear. It provides some 20% of our electricity requirements, and obviously in a low-carbon manner. We are also looking for cost reductions in new-build projects and I am glad that the noble Lord emphasised that. In our nuclear sector deal we are looking for cost reductions of some 30% over the next 15 years or so, as well as cost reductions in other areas. He is also right to emphasise the role that wind can play and the fact that the cost of wind is coming down.