Written questions, answers and statements

Nuclear Power Stations: Construction

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Question for Department for Business, Energy and Industrial Strategy

UIN 38236, tabled on 22 July 2021

Question

Craig Whittaker
Conservative
Calder Valley
Commons

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.

Answer

Anne-Marie Trevelyan
Conservative
Berwick-upon-Tweed
Commons

Answered on

6 September 2021

As we stated in our response to the consultation on a Regulated Asset Base (RAB) for nuclear published on 14th 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.

Answered by

Department for Business, Energy and Industrial Strategy
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