Nuclear Energy Bill - Clause 7 - Licence modifications: relevant licensee nuclear companies

Proposes several amendments aimed at preventing designation of nuclear companies owned by foreign powers, ensuring fuel rod supply by UK-based companies, requiring reports on project costs and decommissioning plans, detailing public funding agreements, outlining penalties for excessive power outages, restricting consumer charges under revenue contracts, and mandating annual reactor operation reports.

Welcomes proposals to create more generating capacity but expresses concern over increasing reliance on imported electricity. Stresses the need for timely and cost-controlled nuclear projects with reliable technology. Questions the Minister's ability to prevent a decline in nuclear-generated electricity this decade due to lengthy project timelines.

Interjects to express concern over 18 major oil and gas projects seemingly put on hold, questioning the impact on current energy needs. Supports the push for small modular nuclear reactors as a way to reduce costs.

In an intervention, John Redwood questions whether doubling offshore wind capacity would have made a significant difference during recent weeks when it only supplied 2% of total electricity due to lack of wind.

Virginia Crosbie supports the Bill, arguing that nuclear power is necessary for energy security and stability as renewables do not currently offer the capacity or reliability needed. She highlights Wylfa Newydd as a key project for her constituency’s economic development and emphasises the need for financing to bring more nuclear power online.

In an intervention, Alan Brown questions Virginia Crosbie on why she opposes certain amendments that aim at improving transparency and highlighting costs. He suggests these amendments could be beneficial.

Welcomes the Bill's return from Committee, supports Labour's amendments addressing diversification and sovereignty. Argues for more nuclear plants to be environmentally sustainable as we seek net zero. Emphasises that Warrington North has many nuclear jobs despite not having a nuclear plant. Highlights the risks to these jobs if new nuclear is not approved. Stresses the need for investment to guarantee construction.

Argues that renewables and nuclear are not mutually exclusive; both are necessary. Uncomfortable with foreign ownership but understands the need for momentum in building new reactors. Supports foreign institutional funding from friendly states, especially when it is expensive and long-term investment. Opposes amendments 1 and 2.

Supports the amendment, highlighting the importance of nuclear energy in reducing carbon footprint and addressing climate change. Acknowledges Northern Ireland's unique situation but encourages inclusion in future strategies for nuclear power generation.

Celebrated the strong support for nuclear power, highlighting the closure of Hunterston B and its significant contributions to Scotland’s energy needs. Questions why the SNP opposes nuclear power despite its benefits.

Called for a focus on debating the amendments rather than general discussions, emphasising the need for transparency in cost reporting and operation of new nuclear stations.

Expressed concerns about proposed amendments that could remove foreign-owned companies from participating in major projects such as Sizewell C, potentially harming the development of these projects.

Sought clarity on state liabilities and transparency regarding private contracts. Emphasised the need for clear definitions and limitations in terms of state exposure, particularly in light of commercial confidentiality issues.

Emphasised the importance of nuclear power for providing baseload energy, highlighting the need for projects like Hinkley Point C to proceed without delay.

Challenged speakers supporting nuclear power by questioning their stance on specific amendments, particularly those concerning cost transparency and reporting requirements. Highlighted potential costs of new nuclear projects.

Questioned the long-term impacts of nuclear power, specifically highlighting concerns about radioactive waste management and disposal.

Supports nuclear power and its role in reducing carbon emissions. Acknowledges Bradwell's history with a successful nuclear power station and its potential for future development despite concerns over Chinese technology. Highlights the benefits to the local community from previous nuclear operations at Bradwell A.

Mr Seely agreed with Mr Whitehead, noting that the Labour Government from 1997 to 2007 stalled nuclear development for a decade, setting back current progress. He emphasised the importance of addressing past delays in the context of present challenges.

Mr Graham questioned whether EDF, despite being majority state-owned by France, could refuse state directives. He argued that Mr Whitehead's amendment incorrectly excluded EDF from its provisions and did not align with its stated intent.

Mr Edwards supported Mr Whitehead’s amendments, highlighting their importance in safeguarding against cost overruns without regulatory oversight. He contended that rejecting these amendments could be irresponsible given the lack of safeguards for bill payers.

Mr Redwood expressed concern about limiting the Government’s flexibility to handle financial disasters from large projects going wrong. He suggested that pre-defining actions in law might hinder effective decision-making during crises.

Minister argues against SNP and Labour amendments, stating that they would delay funding access and restrict potential investors. He highlights the importance of transparency in decision-making processes and supports the current balance of legislation.

Proposes new clause 1 to ensure transparency in special administration regime. Argues that it is important for public interest and consumer protection.

Intervenes to question the Minister's stance on transparency, suggesting a need for clearer reporting requirements.

Proposes a new nuclear RAB model to attract capital into the sector, reduce costs for consumers and businesses, secure energy supply diversity, and promote small modular reactors. Emphasises the need for investment in large-scale projects and support for technologies like tidal streams. Rejects Labour amendments that would prohibit foreign investment.

Questions why the RAB model is exclusive to nuclear energy and not available for other technologies like tidal streams.

Congratulates Kwasi Kwarteng on bringing forward the Bill, highlighting that nuclear energy is essential for a zero-carbon baseload in transitioning to net zero.

Asks about the timeline for proving and implementing small nuclear technology if everything goes well.

Questions why £1.7 billion was allocated in the last Budget to develop this project to final investment stage, seeking clarity on what taxpayers are getting for that investment.

Welcomes the Bill's aim to finance nuclear power but urges careful consideration of the RAB model. Concerned about foreign ownership, particularly Chinese involvement in Sizewell C and future projects. Emphasises the importance of customer interest and fair treatment under the RAB scheme. Supports Springfields as a vital supplier for British fuel rods.

Strongly supports the Bill, citing its importance to safeguard jobs in his constituency where nuclear power stations are a major employer. Believes it is crucial for energy supply security.

Opposes the Bill due to concerns over its financial impact on bill payers, lack of proven success for RAB model in nuclear projects, and alternative funding mechanisms. Criticises reliance on unproven EPR technology and advocates for investment in renewable energy solutions.

John Redwood supports the overall goals of the Energy Act but is concerned about its implementation. He fears that nuclear power capacity will decrease in 2030 compared to today, highlighting difficulties with securing big projects on time and budget. Additionally, he points out current reliance on imported electricity (10%) and the need for reliable standby power when renewables are insufficient. Redwood advocates for a mix of renewables while also considering availability and affordability now, not just in future decades.

Mark Menzies expresses gratitude towards the Government for their support of Springfields nuclear fuels plant located in his constituency. He highlights Springfields' role as the only nuclear fuel manufacturer and its importance to energy security. Menzies supports the Government’s efforts to secure the future of the plant and workforce, emphasising the commitment of those on Government Benches to ensuring that nuclear plays a significant part in Britain's industrial renaissance.