Energy White Paper

Bim Afolami Excerpts

Monday 14th December 2020 Commons Chamber

[Alok Sharma]

I thank the hon. Gentleman for that question. Seeing what the CCC has said, we will of course be responding on CB6 next year. That and the 10-point plan take us forward towards fulfilling CB4 and CB5, but we will set out more details in due course on how we get to those budgets. We will also be setting out, between now and COP26, a net-zero strategy for the country.

[Bim Afolami (Hitchin and Harpenden) (Con)]

I welcome the Secretary of State’s support for nuclear and the discussions on Sizewell C. Is the eventual financing model entirely contingent upon the 30% reduction in the build cost for nuclear that is set out in the White Paper? To what extent does he see Government investing in nuclear over the medium to long term as a first resort, or should the first resort be investment from the private sector, with Government investment a last resort?

[Alok Sharma]

My hon. Friend makes an important point about funding models. Of course, Sizewell C will be second of a kind in terms of projects. I think there is likely to be an appetite from the private sector to invest in that, but we are at the start of the discussion with EDF to explore financing options. It could involve the regulated asset base model. As I said in my statement, we will look at the part that the Government or consumers could play in the financing, but at the heart of any decision will be ensuring that we are delivering value for money for British taxpayers and British consumers.