The Prime Minister has appointed Greg Clark as Secretary of State for Business, Energy and Industrial Strategy. He will head a new department that will bring together responsibilities for business, industrial strategy, science, innovation and energy.
This new department will have responsibility for:
- developing and delivering a comprehensive industrial strategy, and leading the government’s relationship with business
- furthering the UK’s status at the leading edge of science, research and innovation
- ensuring that the country has secure energy supplies that are reliable, affordable and clean
- dealing with climate change
There is also coverage in the news today on the cost of Hinkley Point C.
Hinkley will generate enough low carbon electricity to power 6 million homes and around £10 from consumer bills will pay for it once it is up and running. We have set a fixed price for the electricity to protect bill payers if energy costs go up or down. It means the cost to consumers will not change.
Nuclear
The Times, The Guardian, the Daily Mail and the Today Programme are claiming that ‘Hinkley will cost consumers up to £30bn,’ following the release of the National Audit Office (NAO) report yesterday. The coverage includes assurances from EDF that ‘short-term changes in today’s wholesale energy prices do not change the long-term case for Hinkley.’
Our view
Hinkley will generate enough low carbon electricity to power 6 million homes and around £10 from consumer bills will pay for it once it is up and running. We have set a fixed price for the electricity to protect bill payers if energy costs go up or down. It means the cost to consumers will not change.
Nuclear is not just a nice to have. It is an essential part of our plan for a 21st century energy system that will power homes and businesses with reliable, low carbon electricity. As the Chancellor said on the Today Programme this morning, we’re very confident Hinkley will go ahead.