1 Lord Ravensdale debates involving HM Treasury

Mon 13th Nov 2023

King’s Speech

Lord Ravensdale Excerpts
Monday 13th November 2023

(1 year ago)

Lords Chamber
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Lord Ravensdale Portrait Lord Ravensdale (CB)
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My Lords, first, I declare an interest as a project director working for AtkinsRéalis, a director of Peers for the Planet and co-chair of Legislators for Nuclear. I wish to make a few remarks on energy, which forms part of the focus of the gracious Speech, and particularly to talk about some enablers for the nuclear programme.

First, we have seen some very welcome developments recently, such as the formation of Great British Nuclear, as the Minister stated in his opening remarks, and it is really encouraging to see the pace at which the SMR competition is moving. However, SMRs are only one piece of the puzzle and larger gigawatt nuclear also needs a similar process to proceed beyond the current projects of Hinkley and Sizewell C. If we are to meet the government target of 24 gigawatts, additional buildout of established technologies will need a place in that, alongside SMRs and advanced nuclear technologies.

Further to that, there is clear crossover on the way forward on SMRs and large nuclear, in that the sites being considered for SMRs will also be suitable for large nuclear, so the two need to be considered together. Can the Minister please update the House on when the Government will announce a way forward with large gigawatt nuclear and a technology selection strategy? Advanced nuclear technologies also need a route forward, and there are a number of advanced nuclear vendors that want to progress in the UK but have no clear route forward; as a result, they are looking elsewhere. I look forward to the forthcoming consultation and hope that the Government will give this some urgent attention in order to seize the opportunity for the UK.

I had hoped for legislation on planning and consenting in the King’s Speech. This has been a central part of the national conversation in recent months, with the HS2 decision highlighting all the difficulties in getting large infrastructure projects built in the UK. We made some good progress in the last Session in ensuring that climate mitigation will be considered in the new national development management policies, but the Government need to go further.

A few examples highlight the issues in this area. The environmental statement for Hinkley Point C ran to 20,000 pages, and for Sizewell C, 44,000 pages—a stack of paper around 5 metres high. Clearly, we are not going to get things built quickly under these kinds of constraints. Also, there is the infamous acoustic fish deterrent system at Hinkley Point C, which went through a five-year process with various regulators and is being installed at huge expense, for negligible benefits. To solve this, energy security and net zero need to be better recognised within the legislative framework, for regulators and other agencies—for example, the Planning Inspectorate and the Environment Agency. These are critical national priorities and must be recognised as such if we are to deliver the nuclear programme the Government want and the country needs. It is not just nuclear: there is grid buildout, onshore wind and energy storage. There is a huge infrastructure challenge here, and a fresh look at the planning system is needed if it is to be delivered.

Finally, the Government are working to address energy security in terms of our oil and gas capacity, but we have an issue globally with dependence on Russia for nuclear fuel. It dominates global supply chains for uranium conversion and enrichment. The UK is uniquely placed to develop a capability that can meet our fuel needs as well as those of other western countries. I know that work is ongoing in this area, but legislating to secure our nuclear fuel supply chains would be an effective way of getting some momentum behind this and ensuring that it happens.

Nuclear will be critical to meeting our energy ambitions. We are in the foothills of the renaissance but there is much still to do to ensure that we seize this opportunity for the country.