Energy White Paper

Lord Ravensdale Excerpts
Lord Callanan Portrait Lord Callanan (Con)
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The noble Baroness makes a very good point. As I am sure she is aware, we have created a carbon capture and storage infrastructure fund of at least £800 million to establish at least two UK sites—one by the mid-2020s and the other by 2030—and £500 million to help energy-intensive industries to move to low-carbon techniques and decarbonise carbon-intensive regions such as Humberside.

Lord Ravensdale Portrait Lord Ravensdale (CB)
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My Lords, I declare my interests as in the register. Given that we are unlikely to achieve net zero without nuclear power, which is critical to the security of thousands of jobs across the regions, I am concerned that the White Paper will contain only a broad outline of the strategy for new nuclear. Will it set out in detail clear guidance on financing, for example a commitment to a RAB model, to give the sector the clarity it needs to progress?

Lord Callanan Portrait Lord Callanan (Con)
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The White Paper will look at the whole system of energy within the UK as part of our commitment to net-zero carbon emissions by 2050. I reaffirm the key role that nuclear will play as part of that future energy mix. I can tell the noble Lord that we will respond to the RAB consultation in due course.