Nuclear Energy Financing Bill has been approved by MPs

Nuclear Energy Financing Bill has been approved by MPs: Last night, MPs voted to support legislation that establishes a new model for financing infrastructure for nuclear projects.

The Nuclear Energy (Financing) Bill seeks to establish a new financial support model for new nuclear power plants in the United Kingdom.

“Civil nuclear has worked for this country and works for consumers. But we all know that the existing financing scheme has led to too many foreign nuclear developers walking away from projects, setting our nuclear industry back a number of years.” Said Business and Energy Secretary Kwasi Kwarteng, speaking in the House of Commons.

“While the existing Contracts for Difference model was right for Hinkley Point C, the lack of alternative funding models has significantly contributed to the cancellation of recent potential large-scale projects.”

“And this includes Hitachi’s project at Wylfa and Toshiba’s project at Moorside. We urgently need a new approach to attract capital into the sector.”

“I am very pleased that our Nuclear Energy Financing Bill has got through the Commons unamended tonight.” Said Minister of State for Energy, Clean Growth and Climate Change Greg Hands.

“The Bill will finance new nuclear power stations, making us less dependent on foreign-owned developers and bringing in the private sector and institutional funding.”

Nuclear Energy Financing Bill has been approved by MPs

--

--

--

Saving your business money on all utilities and providing you with up-to-date news as well as tips on saving money.

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Veteran UK politicians asked to lead potential anti-Brexit government

What is the future prospect of Congress JDS alliance in Karnataka

Rishi Sunak spent the morning with the UK’s oil and gas industry.

Rishi Sunak spent the morning with the UK’s oil and gas industry.

1. JP MORGAN. 2. NORTON ROSE FULBRIGHT #358

PROBLEMS GOING FORWARD #258

Migration and Technology: Lessons From the Brazil-Venezuela Border

Thursday 26th March 2020

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
British Utilities

British Utilities

Saving your business money on all utilities and providing you with up-to-date news as well as tips on saving money.

More from Medium

Going Down the Rabbit Hole — Ryan Woerner

The Ever Growing Risk To Humanity From The Fossil Fuel Industry

What Do Polar Bears Tell Us About Our Own Future?

World Resource Institute report on a “Sustainable Food Future” — My takeaways.