UK sets out plan for nuclear industry to bear cost of decommissioning

The British government today published proposals on how operators of new nuclear power stations will have to make secure financial provision for decommissioning without recourse to the taxpayer.
 
New nuclear operators will be required by law to put money aside from day one to pay for the eventual decommissioning costs and their full share of waste disposal. This is in line with the coalition commitment that new nuclear can proceed provided there is no specific subsidy.
 
The consultation on draft Funded Decommissioning Programme Guidance sets out how operators will be required to meet their obligation to have robust decommissioning plans and secure funds in place before constructing a new power station.
 
Also published today is the consultation on a Waste Transfer Pricing Methodology. The Government intends to ensure the safe disposal of radioactive waste from new nuclear power stations without cost to the taxpayer, while facilitating investment through providing operators with the cost certainty they need to be able to invest. 
 
The consultation sets out how a price will be determined for the disposal of new build higher activity waste in the planned Geological Disposal Facility, the Government’s preferred solution for dealing with legacy waste regardless of any new nuclear build. 
 

The consultation includes the proposal that the Government should set a cap on the waste transfer price, to provide operators with cost certainty. The cap will be set at a very high level – the consultation suggests three times current cost estimates. However the Government accepts that it is impossible to be certain that costs will not exceed the cap so, in return for setting the cap, the waste transfer price charged to new nuclear operators will include an additional ‘risk fee’ to compensate the Government for accepting this small residual risk.

For more nuclear news click here.

 

Sponsored by FLSmidth

Related Articles

NRC: DOE’s Yucca Mountain R&D meet NRC requirements

The staff of the U.S. Nuclear Regulatory Commission (NRC) published Volume 4 of its safety evaluation report on a proposed underground used nuclear fuel repository in Nevada.

Westinghouse continues to provide nuclear fuel to French power plants

Westinghouse Electric Co. and EDF signed a new long-term nuclear fuel contract to support EDF’s nuclear power plants in France.

Follow Power Engineering on Twitter
Latest News

Green Mountain Power will offer Tesla home battery

On the same day as the product’s announcement, Green Mountain Power (GMP) will be one of the ...

Tesla plugs into energy storage market with home battery system

FOSTER CITY, Calif. (AP) — Elon Musk, CEO of electric car maker Tesla Motors hopes to park hu...

Officials: Deal reached over Kalkaska gas plant pollution

KALKASKA, Mich. (AP) - Federal officials say they've reached a settlement with a Texas compan...

MidAmerican plans 2 Iowa wind farms costing $900 million

DES MOINES, Iowa (AP) - MidAmerican Energy says it plans to build two new wind farms in Iowa ...

Caterpillar expands renewable power generation with First Solar

Caterpillar (NYSE: CAT) and First Solar (Nasdaq: FSLR) will develop an integrated photov...

Agreement would ensure coal supply for NM power plant

The owners of a power plant that provides electricity to more than 2 million customers throug...

Kansai Electric Power requests nuclear power plant life extension

Kansai Electric Power Co. is planning to extend the operational life of two nuclear reactors ...

Dominion acquires 20-MW California solar power project

Dominion (NYSE: D) acquired a 20-MW solar power facility in California from E.ON North America.

Power Engineering Current Issue

03/01/2014
Volume 118, Issue 3
1403PE-cover
Products Showcase
Dynamic Fluoride Ion cleaning DFIC of industrial natural gas turbines Hi-Tech Furnace Systems

Dynamic Fluoride Ion Cleaning of IGT Parts

The Dynamic Fluoride Ion Cleaning (DFIC) Process from Hi-Tech Furnace Systems is able to clean deep, narrow cracks of oxides by cycling between negative, atmospheric, and positive pressure.

Archived Articles

2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013

Buyers Guide Product Listings

Nondestructive Examination and Testing

Advanced nondestructive examination, NDE, techn...

Engineering Services

Structural Integrity Associates, Inc. (SI) is a...

Buyers Guide Company Listings

Power Industry Wire News

Power Your Way Through Summer

Power Your Way Through Summer

National Grid Statement on the Energy Efficiency Improvement Act of 2015

National Grid Statement on the Energy Efficiency Improvement Act of 2015

Perma-Fix Schedules First Quarter 2015 Earnings Conference Call

Perma-Fix Schedules First Quarter 2015 Earnings Conference Call

PALMco Joins Autism Services and Resources Connecticut's Annual Walk for Autism as a Silver Sponsor

PALMco Joins Autism Services and Resources Connecticut's Annual Walk for Autism as a Si...

UGE Selected to Install Portfolio of Microgrid Systems for Small Businesses in New York City

UGE Selected to Install Portfolio of Microgrid Systems for Small Businesses in New York...

Power Engineering

Article Archives for Power Engineering Magazine

Continuing Education

Professional Development Hours

To access a course listing associated to a specific topic listed below, click on the topic of choice from the list below.

Latest Energy Jobs

View more Job Listings >>