My Lords, Amendment 11 would require the Secretary of State to undertake an assessment of the case for establishing a state-owned entity to take over the delivery and operation of a nuclear project in the event that a nuclear company fails and cannot be saved or have its assets transferred:
“This amendment makes clear that nothing in Part 3 of the Bill (the special administration regime) prevents the Secretary of State from taking a project into public ownership, where that would allow electricity supply to be commenced or continued.”
The ultimate aim of the Bill is to get power generated and distributed to homes and businesses across the country. We hope that firms will not fail, but if they do, there needs to be a clear process to ensure that plants are able to be built or continue to operate. I am sure the Minister will argue, as he did in Committee, that the special administration regime does this, but there is still potential for steps that may be needed, and surely, options should be defined in legislation now, rather than waiting until the worst should happen.
Amendment 12, in the name of the noble Lord, Lord Ravensdale, is fundamental to how nuclear energy is seen in the green mix. The Prime Minister has made this argument in favour of the wording within this amendment: I realise that we on these Benches do not often call for the Prime Minister’s words to be turned into law, but in this case we do. In fact, the government briefing and policy background to this Bill states, in paragraph 2:
“The Government has made high-level commitments to eliminate its contribution to greenhouse gas emissions. This includes the passage of legislation that requires the UK to bring all greenhouse gas emissions to net zero by 2050, as well as subsequent commitments to reduce carbon emissions by 78% and to decarbonise the electricity system by 2035.”
That is all commendable. It goes on:
“This will require rapid, significant changes in the energy sector: total UK electricity supply will need to double by 2050 and electricity from low-carbon sources will need to quadruple, in order to deliver the UK’s commitment to become a Net Zero emissions economy by that year.”
This is the important bit; it goes on, in paragraph 3:
“A key part of this will be to secure the transition to a clean electricity system that is reliable and affordable for energy consumers. This will require a substantial deployment of renewable technologies, alongside technologies such as nuclear which can provide energy to consumers when the wind is not blowing or the sun does not shine.”
Finally, paragraph 4 says:
“Large scale nuclear power plants are the only proven technology available today to provide continuous, reliable and low carbon electricity.”
I think the Government’s words speak for themselves, and I am happy to support the noble Lord, Lord Ravensdale, in his amendment. With that, I beg to move my Amendment 11.
5.30 pm