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Energy Security

I do not think we should say no to any low-carbon form of power generation. Nuclear power is a proven and reliable way of generating low-carbon electricity, and I think it would be wrong for a generation that has taken advantage of the benefits of reliable nuclear power, as this generation has, to say to future generations ““We are sorry, but we are not going to give you the option of nuclear power in the energy mix.”” My hon. Friend has a difference of opinion with the Government on nuclear power, and I am sorry about that. I do not think that he takes into account the new economics of energy in the world, the high—probably sustainedly high—prices of fossil fuels, and the necessity of action on climate change and the impact of a carbon pricing mechanism such as the emissions trading scheme. All those changes have opened up a space in which new nuclear facilities can operate, which is why so many countries around the world are actively pursuing the nuclear option, wisely and sensibly in my view. At the end of the day, however, it is for the private sector, not the taxpayer, to finance investment in a new nuclear power station, and my hon. Friend's concern about subsidy is therefore misplaced.