EDF approves nuclear build policy

Energy minister Charles Hendry told industry executives that the government wanted the private sector to build new nuclear reactors without public funds, but that the state had a role to play in reducing unnecessary barriers.

He added that the country needed £200bn of investment over the next 10 to 15 years to securely decarbonise energy production and that, for the first time, investment would have to come from abroad.

The coalition government’s policy has been formed despite Liberal Democrat opposition to new nuclear power stations and Lib Dem MPs will abstain from parliamentary votes on the issue.

‘The coalition agreement clearly sees a role for new nuclear, provided that there is no public subsidy,’ said Hendry.

‘We are clear. It is for private-sector energy companies to construct, operate and decommission new nuclear plants. It will be for us to ensure the appropriate levels of safety, security and environmental regulation.’

He highlighted the need to set a strong minimum price for carbon-producing energy − a ’carbon floor price’ − to encourage the development of low-carbon technology.