John Whittingdale
Main Page: John Whittingdale (Conservative - Maldon)(10 years, 6 months ago)
Commons ChamberRead Full debate Read Hansard Text
Mr Davey
There is already a lot of decommissioning expertise in this country because we are spending so much money on it. We have a lot of technology in that area. If we build those costs into the strike price early on—[Interruption.] If the hon. Gentleman listens, I will answer his question. We can do it for £2 early on, from day one of generation, because we are putting money aside over a 60-year period of generating. I believe the funded decommissioning plan lasts for 40 years—[Interruption.] I am getting nods, so I must be right. However, the plant is expected to generate electricity for 60 years. It is rather like a pension fund. If we make sensible provision early on, the costs can be kept very low.
Mr John Whittingdale (Maldon) (Con)
Will the Secretary of State confirm that it is the Government’s ambition that this should be the first of a series of investments in new nuclear generation? What are the Government doing to attract other potential investors who may be persuaded to look at designated sites, such as Bradwell-on-Sea in my constituency, which is already a model of successful decommissioning?
Mr Davey
Yes, we envisage a series of new nuclear power stations being built. I and other members of the Government have, on various trips, engaged in commercial diplomacy, meeting potential investors and nuclear companies in other countries, and there is huge interest in the nuclear market. When German companies RWE and E.ON put the Horizon consortium on the market everyone said, “This is a disaster. It shows that nuclear policy isn’t working.” Far from it. We had huge interest from around the world. Hitachi ended up paying nearly £700 million for the privilege of having the consortium, even before it had got its reactor design through the generic design assessment. That is the level of interest and the vote of confidence in our policy.