Ian Swales
Main Page: Ian Swales (Liberal Democrat - Redcar)
Chris Huhne
I could not be clearer than to say that there is no subsidy here which attaches to nuclear power. The subsidy attaches to low-carbon generation, and whatever the Member’s view, the reality is that nuclear power is a low-carbon energy source and the subsidy applies to low-carbon generation. Over time I want to see the technologies as they are at the moment compete, so that we can find which are the most effective at providing our consumers with low-cost electricity from low-carbon sources—and the framework will allow us to do that.
Ian Swales (Redcar) (LD)
How can the Secretary of State ensure that those who want to invest the much-needed billions right now do not get delayed by the consultation period and the navel-gazing that might follow today’s statement? For example, if someone has half a billion pounds for a biomass power station today, can they spend it?
Chris Huhne
My hon. Friend and I have had discussions on the specifics of biomass power stations, and I hope that some of the announcements that the Department has made, for example about bringing forward the review of the incentives for that type of plant, will help. We have also been able to issue some letters of comfort to different investors to try to ensure that they do not have problems with financing projects. I want to minimise the uncertainty that inevitably exists in changing from one regime to another, and make these investments happen as quickly as possible.