(10 years ago)
Commons Chamber7. What discussions he has had with businesses in Wales on the effects of energy prices on their international competitiveness.
10. What discussions he has had with businesses in Wales on the effects of energy prices on their international competitiveness.
(11 years, 9 months ago)
Commons ChamberMy hon. Friend, like my hon. Friend the Member for Hartlepool (Mr Wright), has a point of view. They have nuclear power stations and nuclear jobs in their constituencies, and naturally they have to fight for their constituents. One can understand the distortions of view that inevitably result from that.
The history of nuclear power has been a story of false dawns all my life. I can remember as a schoolboy going to an exhibition in Cardiff called “Atoms for Peace”. I remember ZETA, a fusion reactor that was going to produce electricity that was too cheap to warrant a meter. We had the steam-generating heavy water reactor, one of the worst civil investment decisions since the building of the pyramids—huge investment that produced nothing of value. Margaret Thatcher had plans to build 10 nuclear power stations, but only one was actually built. My party was seduced by the pied piper of nuclear power fairly recently.
Let me put it on record that I do not have a nuclear power station in my area. Is it not the logic of my hon. Friend’s argument that instead of building a great new green generation of stations, this country will import electricity from abroad, probably from French nuclear power stations?
That is a very limited view of the history of the matter, which I will come to. As recently as 2007, however, my party took the view that nuclear was economically unattractive. That was in one of our manifestos. But an event took place in Downing street where there was a PowerPoint presentation to the then Prime Minister that said, “Mr Blair, there’s going to be a gap in our electricity supply because the advanced gas-cooled reactors are going to become obsolete and that will create a problem in a number of years that will have to be solved.” Within a year of the Labour Government changing their policy on nuclear power, having decided that what had been economically unattractive was okay, the life of the AGRs was lengthened and the gap had disappeared. The spin had taken place, and we were seduced into the view that nuclear was inevitable.
All parties, I believe, went into the last election with the promise that nuclear was acceptable if there were no subsidies, but where are we now? There are enormous subsidies. In 2008, I heard a debate in this House about the insurance costs for the Government of nuclear power. The most recent figure that we have for the cost of a nuclear accident is £200 billion for Chernobyl, and the taxpayer would have to pay that.