Energy: Civil Nuclear Power — House of Lords, 2021-12-09
Topic: Energy
Lucy Neville-Rolfe (Conservative, Centre-right): My Lords, it is a great pleasure to follow the noble Lord, Lord Broers, with his lifetime contribution to engineering and his well-informed support for nuclear. I warmly thank my noble friend Lord Howell of Guildford for arranging this debate on a major economic issue. He has a distinguished background in the subject. I especially agree with him on the mood turning against nuclear in the 1990s, the growing demands for electricity that we face and on the intermittency of renewable energy I have learned a lot from my noble friend since my short spell as Energy Minister in 2016. Nuclear was my favourite part of that portfolio. It had the longest "to do" list of any policy area, and I tried to bring my business expertise to bear in order to progress matters. We got Hinkley Point C over the line and mapped out a plan for five further such reactors so that investment could be sought, and more research funds were allocated. We strengthened the regulator and worked up the consultation on the geological disposal of waste. My regret at leaving the portfolio behind was to not have added more to the "done" list. Little did I think in 2016 that so little would be delivered thereafter in such a vital period from the point of view of both energy security and climate change Sadly, this echoes decades of wasted opportunities and delay. Nuclear power started in this country in the 1950s at Calder Hall, so it was a British invention and innovation. Unforgivably, it was eventually sold off to foreign interests without due regard to its strategic importance. It is still responsible for 16% of UK electricity, down from 25% in the 1990s when the Kyoto targets were set Renewable energy has, overall, been a success story in the UK, especially offshore wind. However, as we know from the crisis this summer, it sometimes produces only tiny amounts of power. The right sort of electricity storage, probably durable batteries, is still a generation away, and we must build more nuclear, and build it faster, to tackle the intermittency problem. That has become more important, given that we now rely so heavily on electricity in both our commercial and our personal lives. During the recent north-east power crisis, wretched customers and householders were told to log in to get help, which was difficult since computers and mobile phones themselves require electricity to operate. So investment in nuclear and, indeed, in a more sophisticated grid able to deal effectively with variations in demand and different sources of energy is essential I welcome the emphasis on nuclear in the Government’s 10-point plan, and the Bill we expect shortly allowing the regulated asset base financing model, which the Government say will save consumers £30 billion, mainly by reducing the risk profile and associated financing costs. The noble Viscount, Lord Hanworth, has explained that point in much more detail to the benefit of all. I thank the Library for that figure of £30 billion, quite a telling figure, and for its comprehensive note I also welcome the commitment to SMRs and the market that they can open up, although they are sadly many years away. Again, many years appear to have been lost since the oft-maligned George Osborne backed them on the back of our expertise in nuclear submarine technology. I also welcome the further investment in fusion, but again the timeframes are very long, and it cannot contribute to the energy mix for decades We must introduce the same sense of urgency that we saw on vaccines. Sizewell must go ahead now. What plans has the Minister to ease the sale down of the EDF/CGN interest, which I understand is planned? When will the foundations of that new nuclear power station go in? How will she accelerate the new investment that we need at Wylfa, Sellafield, Oldbury, Hartlepool, or anywhere else, as the existing reactors wear out and are retired? We are at last rebuilding our skill base at Hinkley, which is most welcome. Construction-related skills is an area which has been highlighted as a problem by the Built Environment Committee, which I now have the honour to chair Let us avoid another disastrous decade of stop-start—especially stop—and get on with bringing about the nuclear change that we need.