Energy White Paper

Christian Matheson Excerpts

Monday 14th December 2020 Commons Chamber

[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.

[Christian Matheson (City of Chester) (Lab)]

The section of the White Paper that I shall be reading is the one on hydrogen. The Secretary of State and the Minister for Business, Energy and Clean Growth will know that in my area—the Mersey and Dee area—there is a strong proposition on hydrogen via HyNet. May I urge the Secretary of State to resist the temptation to put all his eggs in one basket? If we are to move forward as a nation, we need to spread around the expertise and not play one region off against another when considering the destination of the investment in hydrogen.

[Alok Sharma]

The hon. Gentleman makes an important point. As part of the 10-point plan and the White Paper, we have talked about how we can level up across the country. I know that my hon. Friend the Minister for Business, Energy and Clean Growth will be happy to have further discussions with him. As I said, he has been working incredibly hard on the hydrogen strategy, and we are happy to hear from all colleagues.