CONSULTATION ON VALUE FOR MONEY FOR NUCLEAR POWER

Early day motion 1715, tabled 17 October 2018 by Caroline Lucas (Green). Signed by 11 members.

That this House notes the National Audit Office conclusion on Hinkley C that the Government committed electricity consumers and taxpayers to a high cost and risky deal in a changing energy marketplace and that under the 35-year contract, EDF is guaranteed a price of £92.50 per MWh it generates, twice the wholesale price of electricity; further notes the reactor design for Hinkley is unproven and other projects incorporating it are experiencing difficulties; is concerned taxpayers risk being tied into another precarious and overpriced nuclear contract at Wylfa, Wales, while the rest of the world backs away from the technology; notes that the UK remains a global leader in offshore wind power after Government policy support led to a 50 per cent drop in two years, making it the cheapest form of large-scale low-carbon power available to the UK; notes smart market design limits the cost of intermittency to £6 to £7 per MWh and that offshore wind is nearly a third cheaper than power from Hinkley; notes the distinguished Energy Transitions Commission analysis that by 2035 it will be feasible to build a near-total-variable renewable power system; notes that onshore wind and solar are close to power market parity; and therefore calls on the Government to publish and present to Parliament the strategic case, including a full Value for Money Assessment, for new nuclear at least six months before further public money, financial guarantees or power contracts are agreed or pledged to the nuclear new-build programme, in order to allow time for effective scrutiny.

Signatures by party: Scottish National Party 4, Labour 3, Green 1, Independent 1, Labour/Co-operative 1, Plaid Cymru 1.