3.81 New nuclear power stations can provide low cost, reliable and low carbon electricity. An application has been submitted for the first new nuclear power station, Hinkley Point C, which, should it achieve development consent, would come on stream from 2019. To enable a new nuclear programme, Government will:
• ensure that the UK has an adequate skill base and supply chain capacity and capability to deliver the programme;
• implement a Contract for Difference Feed-in Tariff regime for new nuclear that balances investor concerns with risk transfer and value for money for consumers. The regime will need to capture the efficiency savings and cost reductions in the programme as the technology progresses from deployment of the first batch of new nuclear power plants, and later projects that can learn from the experience of these early projects;
• implement the new planning regime through the Major Infrastructure Planning Unit, supported by the clear National Policy Statement on new nuclear power which was designated in July 2011, so that final decisions on applications to build new nuclear power stations can be made from 2013 onwards;
• progress the regulatory aspects, including instituting an independent Office of Nuclear Regulation in statute by 2013, and progressing reactor design approval. Interim reactor design acceptances will be issued by the Office of Nuclear Regulation by the end of the year;
• increase certainty on decommissioning and waste stream arrangements and costs, through putting in place by December 2011 the legislative and policy framework, including the publication of statutory guidance, and finalising the pricing mechanism for the disposal of higher activity waste and continuing to progress geological disposal;
• respond to Dr Mike Weightman's final report on lessons learned at Fukushima by December 2011. The Government has already noted that the interim report confirmed that the UK's current safety regime is working and that regulators and industry should continue to work together to make continuous improvements to nuclear safety. It also provided reassurance that new nuclear can be part of a low carbon energy mix in the UK; and
• engage with developers and local authorities on community benefit and bring forward proposals by 2012 for reform of the community benefit regime to provide greater certainty for all parties.