Energy White Paper

Caroline Lucas Excerpts

Monday 14th December 2020 Commons Chamber

[Alok Sharma]

Yes, of course. If there are interesting projects out there we want to know. I do not know whether this is one of the projects that came forward in the call for evidence, but of course the Minister for Business, Energy and Clean Growth or I would be happy to meet my right hon. Friend and the business involved.

[Caroline Lucas (Brighton, Pavilion) (Green) [V]]

With nuclear power both eye-wateringly expensive and painfully slow in the face of the climate emergency, it is disappointing that there is not more ambition on renewables and efficiency instead. Will the Secretary of State confirm that, far from saving consumers money, the regulated asset base funding model essentially means that consumers pay twice: first to reduce the cost of borrowing by increasing bills before the plant is operating, forcing liability for construction delays on to customers, and secondly for extremely costly power once the plant starts operating? Will he immediately publish the modelling that allows him to mysteriously claim that this will drive down costs for consumers?

[Alok Sharma]

First, I was on a call with the hon. Lady recently and she acknowledged—through gritted teeth, I think—that she was quite pleased with the UK’s NDC commitment of at least 68%, so I thank her for that. On nuclear, of course we will look at a range of financing models. I explained earlier why nuclear is so important as part of the energy mix—it is a non-intermittent supply—but of course the whole point of the regulated asset base model is that, ultimately, it should result in cheaper prices for consumers.