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In a step designed to protect the taxpayer and provide investor certainty, the U ...
Alongside this, the government has confirmed how it will calculate the price operators will pay for the disposal of nuclear waste in a geological disposal facility.
Charles Hendry, Energy Minister, said: ‘Nuclear operators will have to prove they have a credible plan for funding the decommissioning and safe management of their radioactive waste. This is the best way to protect taxpayers from having to pick up the bill.’
The guidance sets out that:
Operators must have insolvency-proof funds set aside for nuclear clean-up from day one of nuclear operation.
Operators must have a realistic, clearly-defined, and achievable plan for the decommissioning of any site, with a robust estimate of costs.
Funds set aside for clean up must be administered independently of the operator and the government.
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Subjects: Banking, finance and investment - Combined heat and power generation - Waste - Economics, business and commerce - Decommissioning - Energy engineering - Electricity from nuclear fuel - Energy efficiency - Electricity generation - Information technology - Energy consumption - Management and commerce - Waste recycling and disposal - Policy and Governance - Heat distribution - Research and development - Waste management - Power stations - Funding -