Nuclear Liabilities Funding Agreement

NLF is a board of directors that was created to maintain and invest the funds needed to meet the decommissioning commitments of britain`s more modern nuclear power plants. The Nuclear Generation Decommissioning Fund was established on 28 March 1996 by the British government as part of preparations for the privatization of British Energy. It included the company`s March 20, 1996 nuclear power plants, which included seven high-gas cooling reactor (AGR) plants and one pressurized water reactor (PWR) station. The Fund`s commitments were defined in an agreement known as the Nuclear Power Plant Decommissioning Agreement. The fund had an initial endowment of $232 million and then received $4 million per quarter from British Energy, adjusted annually for the RPI. [3] On 14 January 2005, the original agreement was terminated following the restructuring of British Energy, after needing financial support from the government. It has been replaced by the Contribution Agreement (CA) and the Nuclear Liabilities Funding Agreement (NLFA). Overall, these agreements have resulted in the following conclusion:[4] We offer impartial monitoring and advice on the adequacy of the support programme (FDP) presented by operators of new nuclear power plants. The Board of Directors consults with the Secretary of State on the financial terms that operators submit for their approval and on the periodic review of funding. On September 29, 2016, the NLFAB Board to the Secretary of State on the Hinkley Point C Nuclear Power Plant Financing Plan was published at the same time as the funded decommissioning training plan for Hinkley and related documents. The Nuclear Liabilities Fund (NLF) was established in 1996 by the British government as part of the privatization agreements of British Energy Group Plc. The NLF`s objective is to allocate funds for the eventual closure of the eight nuclear power plants operated by British Energy.

The fund is a limited company registered in Scotland and is owned by the Nuclear Trust. It consists of five agents, three from the Secretary of State for Energy and Climate Change and two from the owners of nuclear power plants, now EDF Energy. The directors are also directors of the fund and own the capital of the fund. [2] The Nuclear Liabilities Fund (formerly nuclear Generation Decommissioning Fund) is a UK government fund to finance some of the long-term costs associated with the dismantling of eight nuclear power plants formerly owned by British Energy, now EDF Energy. Responsibility for the fund in government rests with the executive of shareholders on behalf of the Ministry of Economy, Energy and Industrial Strategy. [1] On 19 January 2009, the fund sold its remaining 36% of British Energy`s shares following its acquisition by EDF Energy. [6] The sale generated an additional $4.421 billion, for a total value of $8.3 billion at that time. These will be invested to finance the long-term costs of dismantling EDF`s eight former nuclear power plants under British Energy, as well as some other contractual and non-contractual nuclear commitments related to the assets as soon as they are incurred.

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