Responding to the Government’s announcement on a new finance model to fund large scale nuclear power projects:
Ofgem is committed to working with government and industry to help make sure the transition to net zero is affordable, fair and inclusive for all consumers. Pursuing our net zero goals further and faster not only benefits the climate but diversifies our energy supply and helps protect us from risks such as high gas prices in the future.
We welcome the introduction of the Nuclear Finance Bill and will continue to keep consumers at the heart of our work as we take on economic regulation of nuclear projects delivered under the Regulatory Asset Base model. The government has made clear that large-scale nuclear projects will play an important role in decarbonising the grid in Britain. Ofgem will continue to work to deliver the greatest value for money for customers, making sure their interests are considered in every decision.
Read more about the government's Bill on parliament.uk.
Ben Tritton, Public Affairs and Media Relations Manager
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