Nuclear Power: Finance

(asked on 17th May 2021) - View Source

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

To ask the Secretary of State for Business, Energy and Industrial Strategy, what progress he has made on the funding models for nuclear energy announced in the Energy White Paper; and what assessment he has made of the potential effect of those models on Ynys Môn.


Answered by
Anne-Marie Trevelyan Portrait
Anne-Marie Trevelyan
Minister of State (Foreign, Commonwealth and Development Office)
This question was answered on 20th May 2021

As we stated in our response to the consultation on a Regulated Asset Base (RAB) for nuclear published on 14th December 2020, the Government is continuing to explore a RAB model. We will also continue to consider the potential role of Government finance during construction, provided there is clear value for money for consumers and taxpayers and subject to relevant approvals.

We believe that a RAB remains a credible model for large-scale nuclear projects, including future projects proposed for Wales, as it has the potential to help reduce the cost of raising private finance and thereby reduce consumer bills in the long run.

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