§ Mrs. BeckettTo ask the President of the Board of Trade what were the reasons for the change from previous plans of £650 million in 1997–98 and £150 million in 1996–97 in the financial requirements of Nuclear Electric; [7035]
(2) if he will make a statement on the financial requirements of Nuclear Electric in 1996–97 and 1997–98; [7037]
1265W(3) if he will make a statement on the effect the announcement of privatisation has had on Nuclear Electric's ability to contribute to the Exchequer. [7054]
§ Mr. Lang[holding answer 19 December 1995]: The financial requirements of Nuclear Electric in 1996–97 and 1997–98 are shown in the "Financial Statement and Budget Report" for 1996–97. As outlined in the report, there will be a change in Nuclear Electric's external financing requirements following the privatisation of the company's advanced gas-cooled reactor and pressurised water reactor stations in 1996, which will leave only the magnox stations in the public sector. The change also includes revision of economic and other estimates such as electricity prices, station outputs, and cost savings, as in normal practice.
§ Mrs. BeckettTo ask the President of the Board of Trade what was the cost of building, designing and commissioning Sizewell B and the seven advanced gas-cooled reactors; and what are the expected receipts from the privatisation of Nuclear Electric. [7036]
§ Mr. Lang[holding answer 19 December 1995]: I refer the right hon. Member to the notes on tangible fixed assets on pages 55 and 65 of the report and accounts of Nuclear Electric 1994–95 and pages 49 and 56 of the report and accounts of Scottish Nuclear 1994–95, copies of which are available in the Library of the House.
The receipts from the Government's planned privatisation of parts of the nuclear power industry will depend on a variety of factors, including market conditions at the time of the sale.