Clause 6 - Licence modifications: designated nuclear companies
Amendment proposed: 9, in page 5, line 21, at end insert—
“(4A) The Secretary of State must lay a report before Parliament in respect of each project in relation to which a nuclear company has been designated under section 2(1) before exercising the power under section 6 (1), setting out—
(a) the expected overall capital cost of the prospective project,
(b) the expected up-front cost of the prospective projects,
(c) the general terms of the project for the sale of electricity onto the grid, including—
(i) a statement of whether the Government has offered the nuclear company a minimum floor price mechanism for the sale of electricity onto the National Grid,
(ii) the minimum floor price mechanism included in any arrangement including any inflationary or baseline indices, and
(iii) the duration in years of any such arrangement under sub-paragraph (ii); and
(d) how decommissioning costs of the project will be met, including in the event of insolvency of the nuclear energy company, setting out any role for—
(i) revenue collection contracts, including any percentage specifically dedicated to decommissioning costs;
(ii) protection of decommissioning payments for time of need;
(iii) insurances; and
(iv) consumer risk.”—(Alan Brown.)