House of Commons
FINANCIAL LIABILITY FOR NUCLEAR POWER STATION SAFETY
EDM #1501
Tabled 10 July 2018
2017-19 Session
That this House is concerned to hear reports that the directors of Hitachi, who will be developing the proposed Wylfa nuclear power station, have sought safeguards to reduce or eliminate the firm's financial responsibility for accidents at the site; notes this follows two serious safety breaches in Hitachi's nuclear developments, one of which resulted in a $2.7 million fine from the US Government; believes that, given that liability for nuclear developers is already capped at 1.3 billion Euros in the event of a nuclear incident as agreed in the Brussels and Paris conventions, it is only right that private providers of nuclear power bear their fair share of the financial impact of safety breaches; is disappointed that the socialising of these risks comes on the back of reports that the Government will underwrite Wylfa through a 2 trillion yen loan to Hitachi while saddling consumers with high energy prices as a result of a proposed £77.50/MWH strike price, despite alternative sources being cheaper, including offshore wind which can deliver power at £57.50/MW; is further concerned that Hitachi's private profits would be so protected without the firm accepting corresponding costs; and calls on the Government to provide urgent reassurances that it will not press ahead with the Wylfa power station development until protection for consumers and taxpayers is secured.