Contributions
1,391 recent contributions in Hansard
HANSARDNuclear Energy (Financing) Bill (First sitting)Q Okay. The Government estimate that using the regulated asset base model will save consumers between £30 billion and £80 billion. How realistic are those projected savings? Julia…16 Nov 2021HANSARDNuclear Energy (Financing) Bill (First sitting)Q But would the price fluctuation on wholesale electricity prices sit with yourselves, or would you expect that minimum floor price to minimise risk? Julia Pyke: You would expect…16 Nov 2021HANSARDNuclear Energy (Financing) Bill (First sitting)Q The regulated asset base model is clearly separate from contracts for difference, but in terms of the 60-year payback, you are looking for a lifetime asset. Would you also…16 Nov 2021HANSARDNuclear Energy (Financing) Bill (First sitting)Q It is priced into a 60-year contract? Julia Pyke: It is priced into the CfD for Hinkley, and it will be priced into the contractual arrangements for Sizewell.16 Nov 2021HANSARDNuclear Energy (Financing) Bill (First sitting)Q What about decommissioning and the disposal of radioactive waste after that? Would that be at your company’s risk or would there be some sort of revenue payment for that as well…16 Nov 2021HANSARDNuclear Energy (Financing) Bill (Second sitting)Q You say that the baseload argument does not stack up, but another argument is that nuclear is needed to compensate for the intermittency of renewables. How robust is that…16 Nov 2021HANSARDNuclear Energy (Financing) Bill (First sitting)Q This is probably something that I am just not clear on myself, but in terms of the regulated asset base model that the Bill facilitates, what kind of contractual period are you…16 Nov 2021HANSARDNuclear Energy (Financing) Bill (First sitting)Q Okay. So if the Bill goes through and we have the right regulated asset base model, would you still be expecting up-front money from the taxpayers to get that final investment…16 Nov 2021HANSARDNuclear Energy (Financing) Bill (First sitting)Q The Chancellor has put that in the Red Book, so can I just check that there has been no discussions with the Sizewell C company about the front money needed to get to the final…16 Nov 2021HANSARDNuclear Energy (Financing) Bill (First sitting)Q If Sizewell C gets the go-ahead, how long do you think it will take to get to the commissioning stage and generate electricity in the grid? Julia Pyke: The construction period…16 Nov 2021HANSARDNuclear Energy (Financing) Bill (Second sitting)Q Richard, following on about costs, you said that Hinkley Point C was estimated at £24 billion. Even if we say that Sizewell is £20 billion, we heard that Rolls-Royce is hoping…16 Nov 2021HANSARDNuclear Energy (Financing) Bill (Second sitting)Q We heard this morning from the Sizewell C company that it is looking for a 60-year contract under the regulated asset base model. Do you have concerns about consumers getting…16 Nov 2021HANSARDNuclear Energy (Financing) Bill (Second sitting)Q We also heard this morning that disposal of radioactive waste is built into the up-front cost and becomes part of the 60-year payback. Is there any way of ensuring that the risk…16 Nov 2021HANSARDNuclear Energy (Financing) Bill (Second sitting)Q Mr Woods, earlier you spoke about possibly delivering SMRs with a contract for difference mechanism. What sort of contractual period would you be looking for? Hinkley, at the…16 Nov 2021HANSARDNuclear Energy (Financing) Bill (Second sitting)Q Okay. If I understand the concept of SMRs, it is factory modular production, but the theory seems to be that repetitiveness drives efficiencies as well, so the costs come down.…16 Nov 2021HANSARDNuclear Energy (Financing) Bill (Second sitting)Q I was asking whether you need a multiple order, and would the contracts be individual or part of a multiple order? Alan Woods: We need to have a pipeline of orders, mainly for…16 Nov 2021HANSARDNuclear Energy (Financing) Bill (Second sitting)Q On what timescale do you think you could have the first SMR constructed and operating? Alan Woods: We have a very detailed schedule to get us to the first of the fleet, as we…16 Nov 2021HANSARD Nuclear Energy (Financing) BillAbsolutely. That is my point. This is about utilising spare energy and then filling the reservoirs. That is much more productive than, with nuclear, putting additional electricity…03 Nov 2021HANSARD Nuclear Energy (Financing) BillI completely agree with the hon. Gentleman about nuclear being clean—oh, wait, apart from the radioactive waste that we still do not know what to do with. We will ignore that…03 Nov 2021HANSARD Nuclear Energy (Financing) BillNot for the first time I think I am going to express a minority view in the Chamber, but I am sure everyone will listen carefully and, once I present my arguments, change their…03 Nov 2021