Phillip Lee
Main Page: Phillip Lee (Liberal Democrat - Bracknell)
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.
Dr Phillip Lee (Bracknell) (Con)
I am a nuclear enthusiast and broadly welcome the details of the plan, but I harbour national security concerns in respect of foreign state involvement. In the light of that, will the Secretary of State say whether a UK public sector pension fund would be able to invest in a Chinese nuclear reactor? If not, why does he believe that the Chinese Government would not be interested in receiving such an investment in their critical energy infrastructure?
Mr Davey
My hon. Friend is aware that my right hon. Friend the Chancellor recently signed a memorandum of understanding with the Chinese Government to ensure that we can work together more in the area of civil nuclear power. That means Chinese companies investing in the UK and British investors and companies investing in China. I will not say that the markets will open overnight—that would be unrealistic—but we are moving into a new era in which we can work with the Chinese and other foreign states.
One odd thing about the debate is that a Hong Kong Chinese company owns UK Power Networks, which owns three of our district network operating companies, including London. So the electricity supplies to London—the cables and the networks—are owned by a Chinese company. I have not heard questions on that at Department of Energy and Climate Change oral questions. Perhaps I will in future, but the evidence—the lights have stayed on—suggests that people should not worry.