NIA Urges Gov’t To Produce Financing Mechanism For New Nuclear
By David Dalton
6 March 2020
Robust model needed by end of year, says association
The UK’s Nuclear Industry Association has called on the government to produce a financing mechanism that supports investment in new build projects and warned that the country will miss its goal of net zero carbon by 2050 unless it finds a way to finance new reactors.In a letter to Chancellor Rishi Sunak the London-based association’s chairman Dr Tim Stone urged the government to respond to the RAB model consultation and work with the industry on developing a robust financing model that is put in place before the end of 2020.The government announced in June 2018 that it would review the viability of the RAB, or regulated asset base model, but it has yet to respond to a public consultation on the Treasury’s proposal that took place last year.