UK Government must allow Parliament to consider ‘value for money’ of major new nuclear power investments, says Chair of SITC
25 October 2023
The House of Commons Science, Innovation and Technology Committee is today publishing the Government response to its Report on Delivering Nuclear Power for the UK.
- Read the report
- Read the full report (PDF)
- Find all publications related to this inquiry, including oral and written evidence
Chair comment
Commenting on the Government response, Committee Chair Rt Hon Greg Clark said:
“Most welcome in this response is that the Government has agreed to the Committee’s main recommendation and will set out the practical roadmap to reaching its extremely stretching target of bringing 24 gigawatts of nuclear-powered electricity to the grid by 2050 - and that it will produce this credible plan by the end of this year.
“The announcement last week confirming greater investment in the UK’s promising nuclear fusion sector, as we recommended, is also heartening.
“The key question facing the Government is whether new nuclear power generation will offer value for money for bill payers and taxpayers, particularly in the light of the decision to cancel much of the HS2 project on value for money grounds.
“In its response to our Report, the Government notes that it is currently satisfied of the “potential” of the Government’s preferred approach to financing the capital costs of Sizewell C to offer value for taxpayers’ money. It also notes that a value for money assessment will be published alongside any future investment decision by ministers.
“The Committee understands that if a deal is reached it will be after a period of confidential negotiations. But the scale of the financial commitment on behalf of future generations is such that its value for money must be able to be scrutinised by Parliament before it is a done deal. The Committee calls for the Government to commit to publish the full terms of a financial deal in time to allow the National Audit Office to advise Parliament on its value for money, before it is signed by ministers.”
Further information
Image credit: UK Parliament