Catherine West – 2016 Parliamentary Question to the Department for Business, Energy and Industrial Strategy

The below Parliamentary question was asked by Catherine West on 2016-10-07.

To ask the Secretary of State for Business, Energy and Industrial Strategy, how much his Department has allocated to schemes to encourage investment in nuclear energy in each of the last five years.

Jesse Norman

The Government welcomes investment in nuclear energy. Under the Electricity Market Reform (EMR) framework, Contracts for Difference (CfDs) are available to potential developers of new nuclear plant – a mechanism which offers a return on private sector investment in the sector. In September 2016 a CfD for Hinkley Point C was awarded to EDF and China General Nuclear (CGN), giving a strike price of £92.50 per megawatt hour for 35 years.