The government has published documents which show significant progress towards implementing a new funding model, with the intention of giving nuclear projects the financial support they need and attract private investment. It includes its case for allowing Sizewell C to receive funding under the Regulated Asset Base (RAB) financing model, bringing the project closer to becoming reality.
The government is also consulting on the detail of how nuclear projects would receive their funding under the new RAB model. The consultation launched today seeks views on the proposals to inform the policy behind the regulations, ahead of laying them in draft before Parliament. The revenue regulations will shape how large nuclear projects like Sizewell C receive funding in the future.
The NIA’s Chief Executive, Tom Greatrex, has welcome today’s announcement which marks an important step towards making Sizewell C a reality:
“The RAB model is an important part of cutting financing costs so the UK can get on with building brand new nuclear power stations. It will help enable Sizewell C, Britain’s next big green energy project, as well as further large and small projects, and it sends a clear message to investors that Britain backs nuclear. This is good news for UK consumers and businesses, who want clean, reliable, British power.”