Business and Industry Minister Andrew Stephenson spoke of the “unrivalled nuclear expertise in Copeland” in Parliament today.
MP Trudy Harrison asked him: “Does the Secretary of State agree with me that nuclear energy must be part of the decarbonisation of this country and could he update this house on the progress that has been made with the Regulated Asset Base (RAB) financial model and the Energy White Paper?”
Mr Stephenson replied: “I agree with my honourable friend that nuclear power has a key role to play in delivering the net-zero target and acknowledge the unrivalled nuclear expertise in Copeland which I was delighted to see on my recent visit.
“We intend to publish our assessment of the feasibility of the RAB model for funding new nuclear shortly.”
The Government’s new Energy White Paper is expected soon and will detail energy policy until 2050. The RAB model is used for financing UK public infrastructure.
