UK Nuclear Energy Programme

Debate between Ed Davey and Lord Watts

Monday 21st October 2013 Commons Chamber

[Mr Davey]

My hon. Friend is right to say that the market reforms that the coalition Government have championed are already bearing fruit. He points to the fact that renewable energy has doubled under this Government, and that we are seeing a push forward on carbon capture and storage and now nuclear. I must say, however, that he played an important role in all of that.

[Mr Dave Watts (St Helens North) (Lab)]

Is it clear from today’s announcement that the British energy industry is broken and that we need a change? Why is all the risk being taken by the public and the Government, and none by EDF?

[Mr Davey]

The hon. Gentleman is wrong on every count. We are fixing the broken market we inherited because we have a lot more competitors, not just in supply and retail, but in wholesale. A lot more independent generators have been coming in, which he should welcome. The idea that all change has stopped—we are the Government changing the electricity market—[Interruption.] He asks about risk, but the risks have been transferred to EDF, not the consumer.

[Mr Watts]

indicated dissent.

[Mr Davey]

It is absurd for the hon. Gentleman to shake his head. This is the first deal, I think probably in the world, in which we have managed to prevent the consumer from taking on any construction risk. He ought to welcome that.