Clause 82 - Expenditure on nuclear related matters
Energy Bill [Lords]
4:15 pm
Mr Nigel Griffiths (Parliamentary Under-Secretary, Department of Trade and Industry; Edinburgh South, Labour)
Hon. Members are right in that the clause extends the Secretary of State's powers to spend money on matters relating to British Energy. They were confirmed in the Electricity (Miscellaneous Provisions) Act 2003. The need for the additional authority followed on after the 2003 Act was passed as a result of detailed documentation setting out the treatment of British Energy's liabilities going forward. To answer the question directly, the clause will allow spending on acquiring and operating any former British Energy nuclear power station that has since been acquired by a third party.
The clause will allow moneys to be spent on acquiring British Energy's shareholding in Nirex. We have included that option to simplify any future restructuring of Nirex and to enable Nirex to operate without involvement from British Energy when it might no longer have a financial interest in its work. The clause will also allow ongoing expenditure in respect of the two options that we have taken up as part of the restructuring of British Energy.