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Nuclear Regulated Asset Base Model

The Department for Energy Security and Net Zero (formerly BEIS) is implementing the Regulated Asset Base (RAB) model for nuclear power station financing, which allows private developers to recover investment costs through regulated returns over the asset's lifetime. Current work includes modifying the Sizewell C RAB licence, developing industry codes, and conducting post-implementation reviews of related regulations. This is an active energy infrastructure financing initiative.

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2026

3 events
21 Jan 2026 | Consultation (closed) Department for Energy Security and Net Zero linked

Post-Implementation Review of Nuclear Installations Regulations

The Department for Energy Security and Net Zero is conducting a post implementation review (PIR) regarding the impact of three statutory instruments (SI): The Nuclear Installations (Prescribed Sites and Transport) Regulations 2018 which came into force on 01 January 2022. …

▤ View document · ↗ GOV.UK

2024

4 events
8 Apr 2024 | Consultation outcome Department for Energy Security and Net Zero linked

Modifications to the Sizewell C Regulated Asset Base licence — outcome published

We're seeking views on proposed modifications to Sizewell C Limited Company’s electricity generation licence.

▤ View document · ↗ GOV.UK · ↓ Regulated Asset Base licence: modifications to … (34pp)
+2 more
↓ DRAFT: Electricity generation licence: special conditions f… (330pp) ↓ Modifications to the Sizewell C Regulated Asset Base licenc… (30pp)
22 Feb 2024 | Consultation outcome Department for Energy Security and Net Zero linked

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

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

▤ View document · ↗ GOV.UK · ↓ Nuclear RAB consultation on industry code and l… (26pp)
+7 more
↓ Annex A: Draft proposed changes to Balancing and Settlement… (64pp) ↓ Annex B: Draft proposed changes to Balancing and Settlement… (52pp) ↓ Annex C: Draft proposed changes to Balancing and Settlement… (33pp) ↓ Annex D: Draft proposed changes to Balancing and Settlement… (78pp) ↓ Nuclear RAB consultation on industry code and licence modif… (15pp) ↓ Annex 2: DRAFT - Legal instrument to modify the Balancing a… (3pp) ↓ Annex 3: DRAFT - Secretary of State letter to Elexon (2pp)
29 Jan 2024 | Consultation outcome Department for Energy Security and Net Zero linked

Modifications to the Sizewell C Regulated Asset Base licence — consultation closed

We're seeking views on proposed modifications to Sizewell C Limited Company’s electricity generation licence.

▤ View document · ↗ GOV.UK · ↓ Regulated Asset Base licence: modifications to … (34pp)
+2 more
↓ DRAFT: Electricity generation licence: special conditions f… (330pp) ↓ Modifications to the Sizewell C Regulated Asset Base licenc… (30pp)
29 Jan 2024 | Consultation (closed) Department for Energy Security and Net Zero linked

Regulated Asset Base Licence Consultation — consultation closed

This consultation seeks views on proposed modifications to Sizewell C Limited Company’s electricity generation licence. In line with duties in the Nuclear Energy (Financing) Act 2022, the Secretary of State is required to consult on any proposed modifications. These modifications …

▤ View document · ↗ GOV.UK

2023

6 events
5 Dec 2023 | Consultation outcome Department for Energy Security and Net Zero linked

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

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

▤ View document · ↗ GOV.UK · ↓ Nuclear RAB consultation on industry code and l… (26pp)
+7 more
↓ Annex A: Draft proposed changes to Balancing and Settlement… (64pp) ↓ Annex B: Draft proposed changes to Balancing and Settlement… (52pp) ↓ Annex C: Draft proposed changes to Balancing and Settlement… (33pp) ↓ Annex D: Draft proposed changes to Balancing and Settlement… (78pp) ↓ Nuclear RAB consultation on industry code and licence modif… (15pp) ↓ Annex 2: DRAFT - Legal instrument to modify the Balancing a… (3pp) ↓ Annex 3: DRAFT - Secretary of State letter to Elexon (2pp)
6 Nov 2023 | Consultation outcome Department for Energy Security and Net Zero linked

Modifications to the Sizewell C Regulated Asset Base licence — consultation opened

We're seeking views on proposed modifications to Sizewell C Limited Company’s electricity generation licence.

▤ View document · ↗ GOV.UK · ↓ Regulated Asset Base licence: modifications to … (34pp)
+2 more
↓ DRAFT: Electricity generation licence: special conditions f… (330pp) ↓ Modifications to the Sizewell C Regulated Asset Base licenc… (30pp)
6 Nov 2023 | Consultation (closed) Department for Energy Security and Net Zero linked

Regulated Asset Base Licence Consultation — consultation opened

This consultation seeks views on proposed modifications to Sizewell C Limited Company’s electricity generation licence. In line with duties in the Nuclear Energy (Financing) Act 2022, the Secretary of State is required to consult on any proposed modifications. These modifications …

▤ View document · ↗ GOV.UK
24 Oct 2023 | Consultation outcome Department for Energy Security and Net Zero linked

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

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

▤ View document · ↗ GOV.UK · ↓ Nuclear RAB consultation on industry code and l… (26pp)
+7 more
↓ Annex A: Draft proposed changes to Balancing and Settlement… (64pp) ↓ Annex B: Draft proposed changes to Balancing and Settlement… (52pp) ↓ Annex C: Draft proposed changes to Balancing and Settlement… (33pp) ↓ Annex D: Draft proposed changes to Balancing and Settlement… (78pp) ↓ Nuclear RAB consultation on industry code and licence modif… (15pp) ↓ Annex 2: DRAFT - Legal instrument to modify the Balancing a… (3pp) ↓ Annex 3: DRAFT - Secretary of State letter to Elexon (2pp)

2022

6 events
14 Dec 2022 | Consultation outcome Department for Business, Energy & Industrial Strategy linked

Revenue stream for the nuclear regulated asset base (RAB) model — outcome published

We're seeking views on the revenue regulations for the implementation of the nuclear RAB model revenue stream.

▤ View document · ↗ GOV.UK · ↓ Revenue stream for the nuclear RAB model (39pp)
+3 more
↓ Consultation stage impact assessment (13pp) ↓ Revenue stream for the nuclear RAB model: government respon… (25pp) ↓ Annex 2: Ofgem response (2pp)
9 Aug 2022 | Consultation outcome Department for Business, Energy & Industrial Strategy linked

Revenue stream for the nuclear regulated asset base (RAB) model — consultation closed

We're seeking views on the revenue regulations for the implementation of the nuclear RAB model revenue stream.

▤ View document · ↗ GOV.UK · ↓ Revenue stream for the nuclear RAB model (39pp)
+3 more
↓ Consultation stage impact assessment (13pp) ↓ Revenue stream for the nuclear RAB model: government respon… (25pp) ↓ Annex 2: Ofgem response (2pp)
9 Aug 2022 | Consultation (closed) Department for Energy Security and Net Zero linked

Revenue stream for the Nuclear RAB model — consultation closed

The Nuclear Energy (Financing) Act 2022 (‘the Act’) makes provision for the implementation of a Regulated Asset Base (RAB) model for nuclear energy generation projects. Fundamental to the successful implementation of a nuclear RAB model is a robust revenue stream …

▤ View document · ↗ GOV.UK
14 Jun 2022 | Consultation outcome Department for Business, Energy & Industrial Strategy linked

Revenue stream for the nuclear regulated asset base (RAB) model — consultation opened

We're seeking views on the revenue regulations for the implementation of the nuclear RAB model revenue stream.

▤ View document · ↗ GOV.UK · ↓ Revenue stream for the nuclear RAB model (39pp)
+3 more
↓ Consultation stage impact assessment (13pp) ↓ Revenue stream for the nuclear RAB model: government respon… (25pp) ↓ Annex 2: Ofgem response (2pp)
14 Jun 2022 | Consultation (closed) Department for Energy Security and Net Zero linked

Revenue stream for the Nuclear RAB model — consultation opened

The Nuclear Energy (Financing) Act 2022 (‘the Act’) makes provision for the implementation of a Regulated Asset Base (RAB) model for nuclear energy generation projects. Fundamental to the successful implementation of a nuclear RAB model is a robust revenue stream …

▤ View document · ↗ GOV.UK

2021

7 events
9 Dec 2021 | Consultation outcome Department for Business, Energy & Industrial Strategy linked

Draft Nuclear Safeguards Fees Regulations — outcome published

We're consulting on a proposed cost recovery scheme to fund the new UK domestic nuclear safeguards regulatory regime from April 2022.

▤ View document · ↗ GOV.UK · ↓ Draft Nuclear Safeguards Fees Regulations: cons… (16pp)
+3 more
↓ Impact assessment (14pp) ↓ Draft Nuclear Safeguards Fees Regulations (12pp) ↓ Draft nuclear safeguards fees regulations: government respo… (12pp)
9 Dec 2021 | Consultation outcome Civil Nuclear Constabulary Department for Business, Energy & Industrial Strategy linked

Civil Nuclear Constabulary: service expansion and diversification — outcome published

A consultation on proposals to amend the remit and powers of the Civil Nuclear Constabulary in the Energy Act.

▤ View document · ↗ GOV.UK · ↓ Civil Nuclear Constabulary: service expansion a… (21pp)
+1 more
↓ Civil Nuclear Constabulary, service expansion and diversifi… (18pp)
5 Aug 2021 | Consultation outcome Civil Nuclear Constabulary Department for Business, Energy & Industrial Strategy linked

Civil Nuclear Constabulary: service expansion and diversification — consultation closed

A consultation on proposals to amend the remit and powers of the Civil Nuclear Constabulary in the Energy Act.

▤ View document · ↗ GOV.UK · ↓ Civil Nuclear Constabulary: service expansion a… (21pp)
+1 more
↓ Civil Nuclear Constabulary, service expansion and diversifi… (18pp)
24 Jun 2021 | Consultation outcome Civil Nuclear Constabulary Department for Business, Energy & Industrial Strategy linked

Civil Nuclear Constabulary: service expansion and diversification — consultation opened

A consultation on proposals to amend the remit and powers of the Civil Nuclear Constabulary in the Energy Act.

▤ View document · ↗ GOV.UK · ↓ Civil Nuclear Constabulary: service expansion a… (21pp)
+1 more
↓ Civil Nuclear Constabulary, service expansion and diversifi… (18pp)
9 Mar 2021 | Consultation outcome Department for Business, Energy & Industrial Strategy linked

Draft Nuclear Safeguards Fees Regulations — consultation closed

We're consulting on a proposed cost recovery scheme to fund the new UK domestic nuclear safeguards regulatory regime from April 2022.

▤ View document · ↗ GOV.UK · ↓ Draft Nuclear Safeguards Fees Regulations: cons… (16pp)
+3 more
↓ Impact assessment (14pp) ↓ Draft Nuclear Safeguards Fees Regulations (12pp) ↓ Draft nuclear safeguards fees regulations: government respo… (12pp)

2020

1 event
15 Dec 2020 | Consultation outcome Department for Business, Energy & Industrial Strategy linked

Draft Nuclear Safeguards Fees Regulations — consultation opened

We're consulting on a proposed cost recovery scheme to fund the new UK domestic nuclear safeguards regulatory regime from April 2022.

▤ View document · ↗ GOV.UK · ↓ Draft Nuclear Safeguards Fees Regulations: cons… (16pp)
+3 more
↓ Impact assessment (14pp) ↓ Draft Nuclear Safeguards Fees Regulations (12pp) ↓ Draft nuclear safeguards fees regulations: government respo… (12pp)

2018

7 events
10 Dec 2018 | Consultation outcome Department for Business, Energy & Industrial Strategy linked

Nuclear Decommissioning Authority: pension reform — outcome published

We’re seeking views on how government proposes to enable the Nuclear Decommissioning Authority to implement pension reform for 2 final salary schemes within its group.

▤ View document · ↗ GOV.UK · ↓ The Nuclear Decommissioning Authority: pension … (28pp)
+5 more
↓ Annex C: NDA Formal Consultation, January - March 2017 (18pp) ↓ Annex D: revised Career Average Revalued Earnings (CARE) pr… (5pp) ↓ Annex E: Addendum to NDA Formal Consultation, March 2017 (10pp) ↓ Annex F: Response to NDA formal consultation, 12 June 2017 (23pp) ↓ Nuclear Decommissioning Authority: pension reform - governm… (19pp)
22 Oct 2018 | Consultation outcome Department for Business, Energy & Industrial Strategy linked

The regulation of nuclear sites in the final stages of decommissioning and clean-up — outcome published

We're seeking views on proposals to amend the regulatory framework that applies to nuclear sites in the final stages of decommissioning and clean-up.

▤ View document · ↗ GOV.UK · ↓ Nuclear decommissioning: consultation on the re… (59pp)
+5 more
↓ Ymgynghoriad ar reoleiddio safleoedd niwclear yng nghyfnoda… (4pp) ↓ Amendment of regulation of nuclear sites in the final stage… (23pp) ↓ Amendment of regulation of nuclear sites in the final stage… (32pp) ↓ Impact assessment (28pp) ↓ Government response Welsh Translation (5pp)
5 Jul 2018 | Consultation outcome Department for Business, Energy & Industrial Strategy linked

Nuclear Decommissioning Authority: pension reform — consultation closed

We’re seeking views on how government proposes to enable the Nuclear Decommissioning Authority to implement pension reform for 2 final salary schemes within its group.

▤ View document · ↗ GOV.UK · ↓ The Nuclear Decommissioning Authority: pension … (28pp)
+5 more
↓ Annex C: NDA Formal Consultation, January - March 2017 (18pp) ↓ Annex D: revised Career Average Revalued Earnings (CARE) pr… (5pp) ↓ Annex E: Addendum to NDA Formal Consultation, March 2017 (10pp) ↓ Annex F: Response to NDA formal consultation, 12 June 2017 (23pp) ↓ Nuclear Decommissioning Authority: pension reform - governm… (19pp)
3 Jul 2018 | Consultation outcome Department for Business, Energy & Industrial Strategy linked

The regulation of nuclear sites in the final stages of decommissioning and clean-up — consultation closed

We're seeking views on proposals to amend the regulatory framework that applies to nuclear sites in the final stages of decommissioning and clean-up.

▤ View document · ↗ GOV.UK · ↓ Nuclear decommissioning: consultation on the re… (59pp)
+5 more
↓ Ymgynghoriad ar reoleiddio safleoedd niwclear yng nghyfnoda… (4pp) ↓ Amendment of regulation of nuclear sites in the final stage… (23pp) ↓ Amendment of regulation of nuclear sites in the final stage… (32pp) ↓ Impact assessment (28pp) ↓ Government response Welsh Translation (5pp)
10 May 2018 | Consultation outcome Department for Business, Energy & Industrial Strategy linked

Nuclear Decommissioning Authority: pension reform — consultation opened

We’re seeking views on how government proposes to enable the Nuclear Decommissioning Authority to implement pension reform for 2 final salary schemes within its group.

▤ View document · ↗ GOV.UK · ↓ The Nuclear Decommissioning Authority: pension … (28pp)
+5 more
↓ Annex C: NDA Formal Consultation, January - March 2017 (18pp) ↓ Annex D: revised Career Average Revalued Earnings (CARE) pr… (5pp) ↓ Annex E: Addendum to NDA Formal Consultation, March 2017 (10pp) ↓ Annex F: Response to NDA formal consultation, 12 June 2017 (23pp) ↓ Nuclear Decommissioning Authority: pension reform - governm… (19pp)
8 May 2018 | Consultation outcome Department for Business, Energy & Industrial Strategy linked

The regulation of nuclear sites in the final stages of decommissioning and clean-up — consultation opened

We're seeking views on proposals to amend the regulatory framework that applies to nuclear sites in the final stages of decommissioning and clean-up.

▤ View document · ↗ GOV.UK · ↓ Nuclear decommissioning: consultation on the re… (59pp)
+5 more
↓ Ymgynghoriad ar reoleiddio safleoedd niwclear yng nghyfnoda… (4pp) ↓ Amendment of regulation of nuclear sites in the final stage… (23pp) ↓ Amendment of regulation of nuclear sites in the final stage… (32pp) ↓ Impact assessment (28pp) ↓ Government response Welsh Translation (5pp)
5 Jan 2018 | Consultation outcome Department for Business, Energy & Industrial Strategy linked

Defining intermediate risk prescribed sites: further consultation — outcome published

Government is seeking views on nuclear third party liability and revised criteria for the definition of intermediate risk nuclear sites.

▤ View document · ↗ GOV.UK · ↓ Consultation document on nuclear third party li… (16pp)
+2 more
↓ Impact assessment: Level of nuclear third party liability f… (10pp) ↓ Nuclear third party liability: defining intermediate risk p… (12pp)

2017

3 events
15 Sep 2017 | Consultation outcome Department for Business, Energy & Industrial Strategy linked

Defining intermediate risk prescribed sites: further consultation — consultation closed

Government is seeking views on nuclear third party liability and revised criteria for the definition of intermediate risk nuclear sites.

▤ View document · ↗ GOV.UK · ↓ Consultation document on nuclear third party li… (16pp)
+2 more
↓ Impact assessment: Level of nuclear third party liability f… (10pp) ↓ Nuclear third party liability: defining intermediate risk p… (12pp)
11 Aug 2017 | Consultation outcome Department for Business, Energy & Industrial Strategy linked

Defining intermediate risk prescribed sites: further consultation — consultation opened

Government is seeking views on nuclear third party liability and revised criteria for the definition of intermediate risk nuclear sites.

▤ View document · ↗ GOV.UK · ↓ Consultation document on nuclear third party li… (16pp)
+2 more
↓ Impact assessment: Level of nuclear third party liability f… (10pp) ↓ Nuclear third party liability: defining intermediate risk p… (12pp)
11 Aug 2017 | Consultation outcome Department for Business, Energy & Industrial Strategy linked

Consultation on defining nuclear prescribed sites and transport — outcome published

The government is seeking views on proposals to revise the Nuclear Installations (Prescribed Sites) Regulations 1983.

▤ View document · ↗ GOV.UK · ↓ Nuclear liability consultation prescribed sites… (30pp)
+4 more
↓ Impact Assessment (12pp) ↓ Draft prescribed sites regs (24pp) ↓ Draft insurance certificate regs (3pp) ↓ Government response to consultation on defining prescribed … (23pp)

2016

2 events
10 Aug 2016 | Consultation outcome Department for Business, Energy & Industrial Strategy linked

Consultation on defining nuclear prescribed sites and transport — consultation closed

The government is seeking views on proposals to revise the Nuclear Installations (Prescribed Sites) Regulations 1983.

▤ View document · ↗ GOV.UK · ↓ Nuclear liability consultation prescribed sites… (30pp)
+4 more
↓ Impact Assessment (12pp) ↓ Draft prescribed sites regs (24pp) ↓ Draft insurance certificate regs (3pp) ↓ Government response to consultation on defining prescribed … (23pp)
29 Jun 2016 | Consultation outcome Department for Business, Energy & Industrial Strategy linked

Consultation on defining nuclear prescribed sites and transport — consultation opened

The government is seeking views on proposals to revise the Nuclear Installations (Prescribed Sites) Regulations 1983.

▤ View document · ↗ GOV.UK · ↓ Nuclear liability consultation prescribed sites… (30pp)
+4 more
↓ Impact Assessment (12pp) ↓ Draft prescribed sites regs (24pp) ↓ Draft insurance certificate regs (3pp) ↓ Government response to consultation on defining prescribed … (23pp)