UK Parliament / Open data

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.

I will make a bit more progress.

However, it is clear that we need a new funding model to support the financing of large-scale and advanced nuclear technologies. Under the existing mechanism to support new nuclear projects, the contracts for difference scheme, developers have to finance the construction of a nuclear project and only begin receiving revenue when the station starts generating electricity. That was the right model to use for Hinkley Point C, given that it was the first nuclear project to be built in the UK for a generation.

Type
Proceeding contribution
Reference
702 c976 
Session
2021-22
Chamber / Committee
House of Commons chamber
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