The skills are transferable, even if people need specialist additions. The general investment in energy skills we are making is important, but the skills
are transferable from renewable to nuclear, oil and gas. However, I recognise the hon. Gentleman’s point. The critical mass of employees needed for the construction and operation of the plants is vital to ensuring those high-value earnings.
New nuclear will be a global asset for this country. It could be an export market, whereas we currently import. It is therefore good that the Government are backing the nuclear sector, which is a major driver of growth in many ways. It is absolutely right that they are committed to making the UK the most attractive country in the world for nuclear investment. Hitachi has not signed a cheque yet, but has indicated its decision to invest £700 million in this country. Unfortunately, the inactivity in the UK under the previous Government means that a nuclear plant has not been completed in recent times, and we desperately need one.
There are many other advantages to new nuclear. For example, nuclear power is already a highly cost-effective option for energy projects. The annual report submitted to the Select Committee on Energy and Climate Change inquiry stated that nuclear power is the cheapest available generating technology over the lifetime of a plant, at an average of £74 per MWh. The Department of Energy and Climate Change estimates that projects starting in 2018 will generate energy for £64 per MWh. The range of possible costs is also the smallest for any generation type.
As I have said, the advantages of nuclear will be more than just economic—other advantages include the stability and security of supply. We will not be dependent on the wind or the sun, and nor will we need to rely on overseas places that might turn off the supply of oil, coal or gas. On the point eloquently made by my hon. Friend the Member for Warrington South, carbon emissions are low for nuclear power plants—they emit 18 times less carbon over their lifetimes than coal-fired plants.
The hon. Member for Cheltenham referred to projects in France and Finland, but he should congratulate the Office for Nuclear Regulation on its thorough work on the Nuclear Decommissioning Authority. I understand that, in France, the design was not completely nailed down and permission was given more quickly than would have happened in this country. I am confident that there will be less opportunity for things to go wrong here. We have reduced the risk of the construction price, even if it has taken longer to get to this point. Hon. Members have discussed Centrica. I am not surprised, because the matter was trailed some time ago. It is a passive investor in the project, so I am not surprised that funds are being used elsewhere.
I am sure hon. Members from Cumbria share my disappointment that the county council overrode the district councils’ views, which supported the site. However, community benefits are important—rightly, because communities put up with disruption during the construction of nuclear power plants. I will not go into all the details of potential benefits for my constituency. There will be jobs, but there will also be significant disruption. It is important that my constituents are catered for and that the disruption is minimised, which is difficult. I am sure many hon. Members would agree with the idea of giving free electricity to people within a certain range of the nuclear power station, as happens in France. I am sure such a measure would be popular in parts of Suffolk.
There is a lot going for new nuclear. We have not rushed; no one can say we rushed the negotiations, which are ongoing. There would be more hon. Members in the Chamber, but the Energy Bill Committee is sitting. It is right that the Government are taking their time to ensure that the deal with EDF and other energy suppliers is balanced so that the taxpayer is not saddled with an unfair deal.
I commend the Government for the scrutiny they have proposed for contracts for difference. I mentioned the Bill and the parliamentary process. The Government have committed to putting the contracts to the House before and after Royal Assent. They will commission an external, independent view of the contracts and publish a summary of the report, plus a value-for-money assessment and a fairness opinion. The process is not rushed or opaque. I recommend that Members oppose the motion, but I will not press it to a Division.
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