§ Mr. Warbeyasked the Minister of Power by what percentage the cost of nuclear-powered electricity generating plant per kilowatt output capacity has fallen since the first tender for this type of plant was accepted; and to what extent this fall has been offset by the increase in interest rates during the same period.
§ Mr. WoodThe estimated capital cost a kilowatt of Oldbury, the last station ordered, is just over a third less than the present estimated cost of Bradwell and Berkeley, the first two stations. The interest rate assumed in 1955, at the time of the original nuclear power programme, was 4 per cent. compared with the present rate of 6 per cent. This increase has offset by about a third the reduction in annual capital charges which would otherwise have occurred.