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Nuclear Power: Finance

Question for Department for Business, Energy and Industrial Strategy

UIN 131222, tabled on 17 December 2020

To ask the Secretary of State for Business, Energy and Industrial Strategy, with reference to his ministerial statement on the Energy White Paper, on 14 December 2020, if he will publish the modelling for the statement that regulated asset base funding model for new nuclear power could drive down costs for consumers in the long run.

Answered on

13 January 2021

The RAB model shares the cost with consumers from the start of construction, reducing the amount of interest owed on loans and return owed on equity, which could cut the cost for consumers over the lifetime of the plant. The House will be kept informed as we progress the options for funding and financing new nuclear projects in the UK.

Answered by

Department for Business, Energy and Industrial Strategy