Nuclear Sector Deal

Mark Pawsey Excerpts

Thursday 28th June 2018 Commons Chamber

[Mr Gyimah]

On the question of there being no new money here, that is not correct. The deal announced today has £20 million for advanced manufacturing, £10 million for supply chain support, £40 million for potential hydraulics facilities in north Wales and £32 million of industry money, and potentially more to come. That is new money. On the much broader question of tidal energy versus nuclear, to reiterate the arguments that have been made in the House already this week, the Swansea bay proposal would cost £1.3 billion to build but would have produced only 0.15% of the electricity we use each year—a capital cost that is more than three times as much per unit of electricity as Hinkley Point C. The same power generated by Swansea over 60 years would cost only £400 million for offshore wind, even at today’s prices. There are some people you can never please, but as my hon. Friend the Member for Copeland (Trudy Harrison) said, today is a good story for the nuclear industry, and I hope that Opposition Members join us in welcoming it.

[Mark Pawsey (Rugby) (Con)]

I welcome today’s sector deal and particularly the role for small modular reactors, which are an obvious replacement for decommissioned coal-fired power stations. Will the Minister confirm that today’s announcement means that nuclear remains a key part of our energy mix, providing a diverse energy source as part of this Government’s industrial strategy?

[Mr Gyimah]

My hon. Friend is right: nuclear is a key part of the energy mix and we are looking for low-cost, reliable and stable sources of energy. That is why our industrial strategy is focusing today on a nuclear energy deal to deliver precisely that.