NIA - The Nuclear Industry Association - (DECC) new nuclear funding watchdog ready to go

(DECC) new nuclear funding watchdog ready to go

The line-up of the board of the Government's watchdog to oversee the decommissioning and waste disposal funding arrangements is completed today. The Nuclear Liabilities Financing Assurance Board (NLFAB) will scrutinise the financing plans for the decommissioning and cleanup of nuclear waste from new nuclear power stations. This is in line with the Government's commitment that the taxpayer will not have to shoulder any costs for clean-up.

Energy and Climate Change Minister Mike O'Brien announced the appointments of:

* Lawyer - Anne Baldock, Global Head of Allen& Overy LLP's Projects, Energy and Infrastructure Practice, Allen and Overy LLP
* Fund Manager - Antony Osborn-Barker, Global Head of Pensions, BNP Paribas
* Environmentalist - Simon Carroll, Programme Officer, National Centre for Biological Diversity, Swedish University of Agricultural Sciences & Uppsala University
* Economist - Dr Anthony White, MBE, Senior Adviser to Climate Change Capital
* Actuary - Simon O'Regan, Global Head of Regions, Mercer
* Nuclear engineer / waste and decommissioning specialist - Norman Harrison, Chief Executive, UKAEA

Energy and Climate Change Minister Mike O'Brien said:

"Nuclear energy is an affordable, low carbon, dependable and safe technology that is important for our low carbon future. But we've always said the taxpayer should be protected from the costs of decommissioning and waste disposal arising from new nuclear power stations. The NLFAB will be another piece of armor to help ensure they get that protection.

The diverse expertise of the board will ensure the NLFAB can provide the independent scrutiny and advice we need."

Lady Balfour, who was appointed as the Chairman of the NLFAB last year, said:

"The NLFAB will be providing independent scrutiny of the financing arrangements that will last decades into the future. The work of the NLFAB will require hard thinking and robust negotiation. This will help ensure that energy companies pay for the full costs of decommissioning and their full share of costs associated with nuclear waste management and disposal. I'm looking forward to working with the new board appointed today."

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