UK Nuclear Energy Programme

Martin Horwood Excerpts

Monday 21st October 2013 Commons Chamber

[Mr Davey]

The detail of transmission infrastructure is sorted out by National Grid under legislation passed some time ago. In many areas, particularly in areas of rural beauty, people want more undergrounding of cables. The hon. Gentleman will know that that can be expensive. There are a number of inquiries at the moment, not least in Wales, and it would be inappropriate for me to comment on them.

[Martin Horwood (Cheltenham) (LD)]

Will my right hon. Friend share with the House complete details of the compensation agreement he mentioned, which, on the face of it, might be interpreted as an attempt to bind this Parliament’s successors, financially if not politically, and prevent a future democratic decision to abandon nuclear?

[Mr Davey]

We will of course be publishing a lot of these details, but I have to say to my hon. Friend that, given the experience in Japan and Germany, it is not unreasonable for a company wanting to invest in nuclear to have some protection against a future Government changing the policy completely. I think that if he was a shareholder of a company wanting to invest in UK nuclear, he would be looking for that sort of protection too. In many ways, I regret that we have had to give that protection, but it was a reasonable request and I think it would have been a show-stopper if we had not been able to meet it.