Select Committee · Welsh Affairs Committee

Nuclear energy in Wales

Status: Closed Opened: 26 May 2022 Closed: 16 Oct 2023 9 recommendations 8 conclusions 2 reports

The Welsh Affairs Committee has launched an inquiry looking at Nuclear energy in Wales . It will consider Wales’ role in the UK Government’s nuclear ambitions, the economic impact of a new nuclear power station at Wylfa and the development of nuclear technologies, such as small modular reactors. Read inquiry launch and terms of reference

Reports

2 reports

Title	HC No.	Published	Items	Response
Third Report - Nuclear energy in Wales	HC 240	3 May 2023	17	Responded
Ynni Niwclear yng Nghymru - Crynodeb	HC 240	3 May 2023	0	Responded

Recommendations & Conclusions

4 items

8 Conclusion Third Report - Nuclear energy in Wales Acknowledged

Financing new nuclear projects at Wylfa faces ongoing challenges despite the RAB model.

The introduction of the Regulated Asset Base (RAB) model is welcomed as a better alternative to the Contracts for Difference (CfD) scheme for nuclear developments. However, financing new nuclear projects is not straightforward and there will still be challenges under the RAB model. For a development to progress at Wylfa, …

Government response. The government acknowledges the complexities of financing nuclear projects under the RAB model and reiterates its belief that the model encourages private investment while protecting consumers. They outline existing mechanisms like value for money assessments, the Nuclear Energy (Financing) Act …

Wales Office

10 Conclusion Third Report - Nuclear energy in Wales Acknowledged

Inclusion of nuclear energy in green taxonomy will unlock new private investment.

We welcome the UK Government’s announcement that nuclear energy will be included in the green taxonomy, subject to consultation. We consider that this will unlock new avenues of private investment for nuclear development and send the signals needed to the financial sector that nuclear energy is an attractive investment. (Paragraph …

Government response. The government welcomes Hitachi's continued stewardship of the Wylfa Newydd site and has a positive relationship and dialogue with all nuclear site owners, but no decisions have been taken over which technologies future projects will proceed with, or at which …

Wales Office

11 Conclusion Third Report - Nuclear energy in Wales Acknowledged

New nuclear developments could significantly boost the North Wales regional economy and job creation.

New nuclear developments at Wylfa or Trawsfynydd could be a game-changer for the north Wales regional economy. Such projects would play an important role in the UK Government’s Levelling-Up agenda by bringing high-skilled, well-paid, long-term job opportunities to a rural area of the UK. It is vital that north Wales …

Government response. The government welcomes the committee's session and recognises the potential significant impact of new nuclear developments on the North Wales economy, noting the strong local interest and support.

Wales Office

17 Recommendation Third Report - Nuclear energy in Wales Acknowledged

Require UK Government to explain plans for resolving the lack of utility developers in nuclear.

One of the significant missing parts of the future of nuclear development is the lack of a utility developer in the UK, other than EDF-related companies. We recommend that the UK Government explains its plans to resolve this problem and whether there is a role for Great British Nuclear to …

Government response. The government acknowledges the challenges faced by past nuclear projects and states that Great British Nuclear (GBN) will aim to overcome hurdles and unlock barriers in the market to enable successful project delivery. However, it does not explicitly detail concrete …

Wales Office

Oral evidence sessions

5 sessions

Date	Witnesses
22 Feb 2023	Alan Raymant · Cwmni Egino, Kiera Harper · Department for Energy Security and Net Zero, Rt Hon David TC Davies MP · Office of the Secretary of State for Wales, Rt Hon Graham Stuart MP · Department for Energy Security and Net Zero, Simon Bowen · Great British Nuclear	View ↗
25 Jan 2023	Alastair Evans · Rolls Royce SMR, Ivan Baldwin · Bechtel, Mark Salisbury · Rolls -Royce SMR, Rory O'Neill · Westinghouse	View ↗
14 Dec 2022	Beccy Pleasant · Nuclear Skills Strategy Group, Daniel Maney · Prospect, Jasbir Sidhu · Nuclear Institute, Professor Bill Lee · Bangor University	View ↗
16 Nov 2022	Darryl Murphy · Aviva Investors, Julia Pyke · Sizewell C, Tom Greatrex · Nuclear Industry Association	View ↗
19 Oct 2022	Dr Doug Parr · Greenpeace UK, Dr Michael Bluck · Imperial College London, Dr William Bodel · Dalton Nuclear Institute, University of Manchester, Linda Rogers · PAWB (People Against Wylfa B), Neil Crumpton · PAWB (People Against Wylfa B), Professor Adrian Bull · Dalton Nuclear Institute, University of Manchester	View ↗