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UK Parliament’s Public Accounts Committee sets out the grim facts on costs of decommissioning nuclear reactors

Despite government already having had to provide additional funding of
£10.7 billion, there remains a strong likelihood that more taxpayers’
money will be required to meet the costs of decommissioning the seven
Advanced Gas-cooled Reactor nuclear power stations.

The Nuclear Liabilities Fund, which was set up to meet the decommissioning costs of these stations,
has not kept up with the increased costs of decommissioning or met its
investment targets. In response, government has chosen to top up the Fund
with taxpayers’ money, providing an injection of capital of £5.1 billion
in 2020–21 with a further £5.6 billion expected in 2021–22. HM
Treasury and the Department for Business, Energy & Industrial Strategy have
opted to maintain an investment strategy for the Fund whereby around 80% of
its assets are invested in the National Loans Fund currently earning
minimal returns.

Estimated decommissioning costs on the other hand have
almost doubled since March 2004, estimated at £23.5 billion in March 2021,
and there remains a significant risk that the costs could rise further
putting strain on the Fund.

 Public Accounts Committee 20th May 2022


May 21, 2022 - Posted by | decommission reactor, UK

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