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Nuclear Energy (Financing) Act 2022.

Country/Territory
United Kingdom
Document type
Legislation
Date
2022 (2022)
Source
FAO, FAOLEX
Long title
An Act to make provision for the implementation of a regulated asset base model for nuclear energy generation projects; for revenue collection for the purposes of that model; for a special administration regime for licensees subject to that model; and about the circumstances in which bodies corporate are not associated with site operators for the purposes of programmes relating to funding the decommissioning of nuclear sites.
Subject
Energy
Keyword
Business/industry/corporations Contract/agreement Nuclear energy Authorization/permit Subsidy/incentive
Geographical area
Atlantic Ocean Islands, Europe, Europe and Central Asia, North Atlantic, North Sea, North-East Atlantic, Northern Europe
Abstract

The purpose of the Act is to facilitate investment in new nuclear power stations. Part 1 Nuclear energy generation projects: regulated asset base model contains procedure of designation of nuclear company, expiry, revocation or laps of designation. It also identifies situations for license modification and procedures for implementing it. Part 2 concerns revenue collection contract; section 15 and 16 recognizes on Secretary of State’s power to make regulations relating to revenue collection contracts between a revenue collection counterparty and a nuclear company, and the required parliamentary process for making those regulations. and to designate a company registered in England and Wales or Scotland or a public authority, with the consent of that person, to act as the counterparty to revenue collection contracts. Section 17 contains duties of a revenue collection counterparty.

Full text
English
Website
www.legislation.gov.uk