The All Party Group on Nuclear Energy held a joint debate on Tuesday 9 March with the Parliamentary Group for Energy Studies, proposed by Bill Tynan MP and chaired by Paddy Tipping MP. Malcolm Grimston, Senior Research Fellow at Imperial College, supported the motion and Dr Tony White of Climate Change Capital represented the sceptical position.

Malcolm Grimston proposed that nuclear energy is essential and not optional. He highlighted the sustainability and environmental benefits of nuclear. He raised concerns over gas dependence from Russia by 2010. He acknowledged that renewables are essential in the future mix, but are dominated by wind power, which is intermittent. Also, in the current global electricity market power failure may cost 200% of normal production costs or more. Keeping the lights on is the cheaper option.

Tony White, felt investors need reliability, stability and guarantees of return on investment. With high capital investment required in the design and build phases of nuclear stations, the City needs to look at returns over 30 years with current designs. He questioned whether even modular nuclear reactor designs such as Pebble Bed would attract investment, and dismissed the chances of funding larger designs such as AP-1000 or 600 within the current free market.

However, Dr White questioned whether free markets could provide security of supply over any energy mix. He identified nuclear as the only source where full lifecycle costs were being addressed. He used an amusing science fiction based quote: "The future can be nuclear Jim - but not as we know it".

Asked to look into their crystal balls to 2024 onwards, Mr Grimston predicted significant new build, with 40% of electricity across Europe supplied by nuclear and Dr White expected nuclear to provide 30% of electricity needs, with smaller nuclear units the successful players in the nuclear market.