Nuclear Regulated Asset Base (RAB): industry code and licence modifications

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UK government consultation | Department for Energy Security and Net Zero

The Nuclear Energy (Financing) Act 2022 makes provision for the implementation of a Regulated Asset Base (RAB) funding model to finance new nuclear energy generation projects. The Nuclear RAB Model (Revenue Collection) Regulations 2023 set out the detailed mechanics of how the revenue stream would operate under the model. Section 29(1) of the Act gives the Secretary of State powers to make modifications to Transmission and Distribution Licences, and the industry codes maintained in accordance with these licences so that the revenue stream can function as intended. This consultation seeks views on modifications proposed to the Balancing and Settlement Code: to establish EMR Settlement Limited (EMRS) as the Settlement Services Provider to carry out nuclear RAB settlement functions on behalf of the revenue collection counterparty, the Low Carbon Contracts Company; and to ensure EMRS and the revenue collection counterparty receive the BSC data that they need to carry out their functions.

Seeking views on the proposed modifications to industry codes and licences so that the nuclear RAB revenue stream can function as intended.

Read more here.

Deadline: 23:59 GMT, 5 December 2023

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