First, let me make it clear, particularly to Ministers, that I support the Bill. The attempt to lock investment in low carbon technologies into British energy markets is vital and demands an interventionist approach. In a sense, I agreed with a lot of what the hon. Member for Daventry (Chris Heaton-Harris) said in describing what are in effect subsidies and quite an interventionist approach in the Bill—something I think is justified for renewables and when bringing forward clean, greener technologies to tackle the urgent question of climate change. I also welcome the important Government amendments that try to ensure that consumers enjoy the lowest possible tariffs.
As is obvious from the debate, there is a growing chorus of scepticism about aspects of the Bill, and particularly subsidies that may be unearned. New clause 5 and new schedule 1 seek to address that issue, which is why I will press new clause 5 to a vote. I have managed to gather support for the new clause, and I acknowledge that of Which?, the Royal Society for the Protection of Birds, the Association for the Conservation of Energy, WWF, Friends of the Earth and Greenpeace, as well as my right hon. Friend the Member for Hazel Grove (Andrew Stunell) and the hon. Members for Stoke-on-Trent North (Joan Walley), for Brighton, Pavilion (Caroline Lucas), for Hove (Mike Weatherley), for Angus (Mr Weir) and for Rutherglen and Hamilton West (Tom Greatrex). I am grateful for support across the House, and for the implied support from Members close to the hon. Member for Daventry who are concerned about subsidies in general but include in that their particular concerns about nuclear power.
My worry is principally about nuclear because the subsidies in the Bill contravene the spirit of the coalition agreement. That agreement distinguished between renewables, where it implicitly accepted there was a case for subsidy, and the nuclear industry, for which it specifically ruled out a subsidy. Only a few years ago, the Labour Government line was also that there should be no subsidy for the new generation of nuclear power.
Amendment 23 and others tabled by the hon. Member for Brighton, Pavilion are specifically anti-nuclear, and there is a case to be made for distinguishing between nuclear and renewables, principally because renewables are emerging technologies. In many cases they are highly competitive, and over time they are generally getting cheaper. Nuclear is an old industry—56 years old—and has generally been getting more and more expensive. The latest new reactors at Olkiluoto—I hope hon. Members will excuse my Finnish pronunciation—and Flamanville in France are both many years behind schedule, and
from the original estimates of between €3 billion and €4 billion are now heading towards estimates of more than €8 billion each—more than 100% over budget. I gather that the Finns and the French are now in litigation with each other over some of those costs and time overruns.