Uranium: Prices

Energy and Climate Change written question – answered on 24th November 2008.

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Photo of Colin Challen Colin Challen Labour, Morley and Rothwell

To ask the Secretary of State for Energy and Climate Change what estimate he has made of the price of uranium during the whole lifetime of any new nuclear power station built in the UK.

Photo of Mike O'Brien Mike O'Brien Minister of State, Department for Energy and Climate Change

The price of uranium is subject, as with other commodities, to market variances. We have therefore not made any assumptions about the future price of uranium.

The Government's White Paper on nuclear energy, published in January 2008, acknowledged that since the price of nuclear fuel represents a much smaller part of the cost of electricity than for other technologies, even significant price increases would have only a limited effect on overall generating costs.

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