Asked by: Alun Cairns (Conservative - Vale of Glamorgan)
Question to the Department for Business, Energy and Industrial Strategy:
To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment he has made of the potential merits of the regulated asset-based financing model for funding new nuclear power stations.
Answered by Nadhim Zahawi
The Government is looking at options for the financing of new nuclear projects. A Regulated Asset Base (RAB) model has the potential to reduce the cost of raising private finance for new nuclear projects, thereby reducing consumer bills and maximising value for money for consumers and taxpayers. In 2019, we consulted on our proposals for a nuclear RAB model and we will publish our response in due course.
Asked by: Alun Cairns (Conservative - Vale of Glamorgan)
Question to the Department for Business, Energy and Industrial Strategy:
To ask the Secretary of State for Business, Energy and Industrial Strategy, what estimate he has made of the proportion of the UK's energy that will be supplied from (a) nuclear, (b) wind, (c) biomass, (d) solar, and (e) tidal sources over the next (i) five, (ii) 10 and (iii) 20 years.
Answered by Kwasi Kwarteng
The Department has published projections of electricity generation by source for the UK which can be used to derive the proportion of total UK electricity supply supplied by nuclear and renewable sources, respectively. These are shown in the table below.
For commercial reasons we do not release any breakdown of renewables projections. Officials need to work in a private space to determine auction parameters for each CfD round to ensure competitive tension. Providing a more granular/annual deployment trajectory for specific technologies could distort auction outcomes.
Proportion of UK electricity supply (gross) excluding net imports[1]
Year | Nuclear | Renewables[2] |
2021 | 21% | 44% |
2022 | 21% | 47% |
2023 | 19% | 51% |
2024 | 13% | 54% |
2025 | 15% | 57% |
2026 | 19% | 58% |
2027 | 20% | 58% |
2028 | 19% | 57% |
2029 | 17% | 57% |
2030 | 18% | 58% |
2031 | 20% | 59% |
2032 | 20% | 59% |
2033 | 20% | 58% |
2034 | 19% | 58% |
2035 | 20% | 58% |
2036 | 24% | 57% |
2037 | 27% | 55% |
2038 | 26% | 55% |
2039 | 26% | 56% |
2040 | 26% | 56% |
The figures are based on central estimates of economic growth and fossil fuel prices and contains all agreed policies where decisions on policy design are sufficiently advanced to allow robust estimates of impact as at August 2019. Further details can be found at https://www.gov.uk/government/collections/energy-and-emissions-projections. Figures provided are derived from BEIS Energy and Emissions Projections (EEP) 2019 Annex J, Total electricity generation by source.
[1] For this calculation total UK electricity supply is defined as including generation from storage but excluding net imports of electricity.
[2] Includes a small amount of generation from non-renewable wastes.
Asked by: Alun Cairns (Conservative - Vale of Glamorgan)
Question to the Department for Business, Energy and Industrial Strategy:
To ask the Secretary of State for Business, Energy and Industrial Strategy, which projects have been supported by regional selective assistance in each of the last three years.
Answered by Nadhim Zahawi
The Regional Selective Assistance scheme is available in Scotland; it has been replaced by successor schemes elsewhere in the UK. For example, the Department’s Regional Growth Fund has provided £16.6m in 2017/18, £16.4m in 2018/19 and £2.7m so far in 2019/20 to support businesses.