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

To ask the Secretary of State for Business, Energy and Industrial Strategy, when he plans to bring forward legislation to enable a financing mechanism for new nuclear power stations.

As we stated in our response to the consultation on a Regulated Asset Base (RAB) for nuclear published on 14^th December 2020, we believe that a RAB remains a credible model for funding nuclear projects, as it should reduce the cost of finance and thereby reduce consumer bills. The Government is considering the model in detail and recognises the need for legislation to implement.