Nuclear Energy (Financing) Bill — Clause 7 — Licence Modifications: Relevant Licensee Nuclear Companies — 10 Jan 2022 at 18:45

The majority of MPs to allow any additional funding a company building and running nuclear power stations is to receive to come from consumers, via electricity suppliers.

MPs were considering the Nuclear Energy (Financing) Bill.^[1][2][3]

The Bill provides powers for the Government to help fund, and encourage private investment in, new nuclear power stations by directing funds from consumers, via electricity suppliers, to pay for the design, construction, commissioning and operation of a new nuclear energy generation project.

The amendment rejected by a majority of MPs in this vote was:

• Amendment proposed: 3, page 7, line 8, at end insert—
• “(3A) When exercising the power in subsection (1), the Secretary of State must not cause the excess of expenditure being incurred over the allowable revenue cap to lead to further charges upon revenue collection contracts.”

The rejected amendment was accompanied by the following explanatory statement from its proposer:

• This amendment prevents the Secretary of State from allowing the levy of further consumer charges should an increase in allowable revenue be agreed following increases in costs or timescale of a nuclear project.

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• [1] Parliament's webpage on the Nuclear Energy (Financing) Bill, Parliament.uk
• [2] Nuclear Energy (Financing) Bill as introduced, 26 October 2021, Parliament.uk
• [3] Explanatory notes to the Nuclear Energy (Financing) Bill as introduced, 26 October 2021, Parliament.uk
• [4] Amendment paper for consideration of the Nuclear Energy (Financing) Bill in the House of Commons on 10 January 2022, Parliament.uk

Debate in Parliament |