The Earl of Effingham (Con)

My Lords, Amendment 2, tabled by my noble friend Lord Trenchard, seeks to remove Great British Nuclear, now re-named Great British Energy-Nuclear, from the scope of this Bill. In adding this amendment, my noble friend recognises the unique role of nuclear energy in our national energy strategy. He cautions against implementing duplicative regulatory burdens that could hinder the progress of a key part of the nation’s energy infrastructure. Nuclear power is already one of the most tightly regulated industries in the UK, subject to the most stringent environmental and safety standards. The existing framework ensures that nuclear development aligns with our broader environmental goals without the need for additional oversight. Imposing further targets through this Bill may simply add another layer of unnecessary obligations, delaying projects that are critical to our energy security and His Majesty’s Government’s net-zero ambitions. We must confront the reality that nuclear energy is different from other forms of power generation. The upfront costs are substantial, the lead times are long, investors and operators need stability and clarity, not shifting regulatory sands that might deter investment. If we are serious about expanding nuclear capacity, as His Majesty’s Government say they are, we must avoid measures that might make those projects even more challenging to deliver. We do not believe that this amendment weakens our commitment to the environment. On the contrary, it recognises that nuclear energy is already a low-carbon, reliable baseload power source that will be indispensable as we transition from fossil fuels. By exempting Great British Nuclear from the Bill, we are not rolling back environmental safeguards but ensuring that nuclear can fulfil its vital role to society without the risk of being impacted by well-intentioned but ultimately unnecessary additional regulation. We urge your Lordships’ House to carefully consider the amendment. A laser focus on delivering clean, secure and affordable energy, which is already highly regulated by experts, will pay dividends for future generations of this country.