Paul Flynn
Main Page: Paul Flynn (Labour - Newport West)
Mr Davey
My hon. Friend makes an important point. The cost of decommissioning is one reason I was concerned about nuclear power in the past. As I have told the House, two thirds of my Department’s budget is spent on decommissioning past nuclear power stations. It was a scandal that we had to clean up the mess of previous Governments who failed to tackle decommissioning costs. That is why this deal is so different from what has gone before. The decommissioning costs are included in the strike price we announced. EDF and its partners must provide, from day one of generation, for a funded decommissioning plan, which will be independently overseen. I can therefore tell my hon. Friend that we have made a big step forward in dealing with decommissioning.
Paul Flynn (Newport West) (Lab)
Without the deal, EDF faces bankruptcy, with £38 billion of debt and only two contracts: the first, at Flamanville, is three years late and more than three times over budget, rising from £3 billion to £8 billion; and the other, in Finland, is twice over budget and seven years late. How does the Secretary of State expect EDF to do at Hinkley what it has never done before, namely deliver on price and on budget?
Mr Davey
The hon. Gentleman is not as well informed as he might be on EDF contracts. For example, it has a contract in China, where, with the Chinese, it is building a nuclear power plant at Taishan. That is on budget and on time. I tell him gently that EDF has a huge amount of experience and is a good partner for the UK. Unlike the deals he mentions, we have ensured that the consumer is protected from construction cost overruns. He ought to welcome that.