Contributions
1,320 recent contributions in Hansard
HANSARDNuclear Energy (Financing) Bill (Fifth sitting)The hon. Gentleman asks a fair question, which I would answer in a couple of ways. First, this issue is best considered in the round as part of the process we have outlined, with…23 Nov 2021HANSARDNuclear Energy (Financing) Bill (Fifth sitting)As has been stated, amendment 15 looks to make provision to exclude from the RAB charge those consumers who are eligible for the warm home discount scheme. I understand the good…23 Nov 2021HANSARDNuclear Energy (Financing) Bill (Fifth sitting)The hon. Gentleman makes an interesting point, but I do not think the amendment in any way answers his question. In fact, if I have understood the amendment correctly, it would…23 Nov 2021HANSARDNuclear Energy (Financing) Bill (Fifth sitting)The protection in the Bill is through the regulation of the process and the oversight, for example by the authority, in this case Ofgem, which will ensure that any amounts paid to…23 Nov 2021HANSARDNuclear Energy (Financing) Bill (Fifth sitting)I thank the hon. Members for Kilmarnock and Loudoun and for Aberdeen North for tabling their amendment. Of course the Government welcome all Opposition parties tabling amendments;…23 Nov 2021HANSARDNuclear Energy (Financing) Bill (Fifth sitting)That is a reasonable request. I am saying that this is a tried-and-tested process that has been there throughout the contract for difference regime. Paying in collateral, and the…23 Nov 2021HANSARDNuclear Energy (Financing) Bill (Fifth sitting)Clause 20 seeks to ensure that electricity suppliers can be reimbursed in cases where the counterparty has overcharged suppliers or overpaid a licensee nuclear company. The clause…23 Nov 2021HANSARDNuclear Energy (Financing) Bill (Fifth sitting)As the hon. Gentleman outlined, amendment 16 addresses how the obligations of suppliers under revenue collection contracts should be enforced. Clause 19 deals with suppliers’…23 Nov 2021HANSARDNuclear Energy (Financing) Bill (Fifth sitting)Again!23 Nov 2021HANSARDNuclear Energy (Financing) Bill (Fifth sitting)I will try to deal with the two questions that the hon. Gentleman raised. First, he asked whether the funds can be held for a long time, and about the period over which they can…23 Nov 2021HANSARDNuclear Energy (Financing) Bill (Fifth sitting)First, the whole process will be regulated by the authority—in this case Ofgem—which would have oversight. Secondly, that would also be a matter for the regulations that are to be…23 Nov 2021HANSARDNuclear Energy (Financing) Bill (Fifth sitting)As the hon. Members for Southampton, Test and for Greenwich and Woolwich laid out, amendment 17 addresses the situation in which funds held by the counterparty may be paid into…23 Nov 2021HANSARDNuclear Energy (Financing) Bill (Fifth sitting)I disagree with the hon. Gentleman. My understanding is that the loan would not be repayable if an alternative were there. The ambiguity of an alternative would unnecessarily…23 Nov 2021HANSARDNuclear Energy (Financing) Bill (Fifth sitting)We will just have to agree to disagree. I think the amendment unnecessarily narrows the scope of the power in a way that we would not wish to see in terms of protection of the…23 Nov 2021HANSARDWhitelee Hydrogen ProjectI wish to update the House: today my Department has announced funding of £9.4 million for a first-of-a-kind new hydrogen project at the Whitelee onshore windfarm—the UK’s…22 Nov 2021HANSARDNuclear Energy (Financing) Bill (Fourth sitting)Broadly speaking, the answer is yes. I think that all of those factors, if known at the time, would be considered when the Secretary of State makes the designation. That is the…18 Nov 2021HANSARDNuclear Energy (Financing) Bill (Fourth sitting)Just to probe the hon. Gentleman on this, if I may, one of the criteria is whether the project is sufficiently developed to warrant a RAB. At what point does he think that the…18 Nov 2021HANSARDNuclear Energy (Financing) Bill (Fourth sitting)This clause, through subsection (1), gives power to the Secretary of State to designate by notice a nuclear company to benefit from a RAB. The later provisions of this part mean…18 Nov 2021HANSARDNuclear Energy (Financing) Bill (Fourth sitting)I disagree with the hon. Gentleman. I think that the process and the checklist is set out pretty well. If he would like, I can run through how the process works when we get to the…18 Nov 2021HANSARDNuclear Energy (Financing) Bill (Fourth sitting)I thank the hon. Gentleman for that varying and detailed speech on clause 2. I will try to deal with each of his points. First, he raised a series of additional factors that could…18 Nov 2021