Parliamentary Search

Written question asked by Lord Marlesford (Conservative) on Tuesday, 7 September 2021, in the House of Lords. It was due for an answer on Tuesday, 21 September 2021. It was answered by Lord Callanan (Conservative) on Wednesday, 22 September 2021 on behalf of the Department for Business, Energy and Industrial Strategy.

Sizewell C Power Station

Question

To ask Her Majesty's Government what assessment they have made of the deterioration of the fuel rod sealings at pressure reactors installed in Taishan, China, for the Sizewell C nuclear power project.

Answer

As we stated in our response to the consultation on a Regulated Asset Base (RAB) for nuclear published on 14th December 2020, we believe that a RAB is a credible model for funding nuclear projects, as it should reduce the cost of finance and thereby reduce consumer bills.

We are also considering whether a RAB model could be applied to other low carbon technologies, including transport and storage infrastructure for carbon dioxide (outlined in the government’s response to the carbon capture, usage and storage business models consultation).

We have always been clear that any new nuclear project must provide value for money for consumers and taxpayers.

Currently no decisions have been taken concerning Government financing of the Sizewell C nuclear power project, ahead of the final investment decision.

The Government continues to explore the use of a Regulated Asset Base model for new nuclear projects and believes that this could be a viable means by which to finance new projects. Decisions on how the model would be applied to new projects have yet to be taken and would be subject to value for money and all relevant approvals.

BEIS officials are engaged regularly with representatives from both EDF Energy and the Office for Nuclear Regulation (the ONR) on a wide range of matters relating to nuclear reactors.

Secondary information

Type
Written question
Reference
HL2503
Session
2021-22
Grouped for answer
Yes
Subjects
China Pressurised water reactors Sizewell C power station
Link
View this Written question on www.parliament.uk