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Nuclear Energy (Financing) Bill

Proceeding contribution from Greg Hands (Conservative) in the House of Commons on Wednesday, 3 November 2021. It occurred during Debate on bills on Nuclear Energy (Financing) Bill.

The hon. Gentleman is right, and we are looking at that technology, but I stress what I just said about deployment at scale. We need something that can be deployed at scale to provide the bulk of our electricity when the sun is not shining or the wind is not blowing.

We are always open-minded on other new technologies, but the most important thing is what can be deployed at scale. The measures in this Bill are critical for ensuring we have the option to bring forward further nuclear capacity.

Twelve of the UK’s 13 current nuclear reactors, representing approximately 85% of our nuclear capacity, are scheduled to close by 2030. Although Hinkley Point C is under construction, additional nuclear is likely to be needed in a low-cost 2050 electricity system. That is why we have committed to bring at least one further large-scale nuclear project to final investment decision by the end of this Parliament, subject to value for money and all relevant approvals.

Type
Proceeding contribution
Reference
702 cc974-5 
Session
2021-22
Chamber / Committee
House of Commons chamber
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