Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, pursuant to the Answer of 20 May 2022 to Question 759 on Nuclear Power, on what basis will the assessments of (a) value for money and (b) technology readiness be made.

The Government will follow HM Treasury Green Book guidance to assess the value for money and deliverability of future nuclear projects. The Government is in constructive commercial negotiations on the Sizewell C project, which proposes to use the Regulated Asset Base (RAB) funding model established by the Nuclear Energy (Financing) Act 2022. In addition to satisfying the Green Book guidance, all projects seeking to use the RAB model must demonstrate that they are both sufficiently advanced and likely to result in value for money, against the criteria set out in Nuclear RAB Model: statement on procedure and criteria for designation.