The primary purpose of Nuclear Liabilities Fund Limited (NLF) is to receive and hold monies, investments and other assets, in order to secure funding for discharging certain liabilities related to the decommissioning of eight nuclear power stations currently operated by EDF Energy Nuclear Generation Limited (‘EDF Energy’).
The nuclear liabilities that are to be covered by NLF funds are set out in the Nuclear Liabilities Funding Agreement (NLFA) between the Department for Energy Security and Net Zero (DESNZ), EDF Energy and NLF. The government press release Decommissioning agreement reached on AGRs provides further information. The aim of NLF is to ensure that there are sufficient assets in the fund to meet the anticipated costs, from the preparation for decommissioning through to final site clearance - a process that is expected to take over 100 years.
NLF does not control or mandate EDF Energy’s decommissioning strategy. NLF works with DESNZ in ensuring stakeholder collaboration with a view to achieving cost synergies and value for money and supports NDA’s Non-NDA Liabilities Assurance team (NLA) in their scrutiny and challenge of EDF Energy’s costs.
Preparations for defueling and decommissioning have started across all of the AGR stations and three stations have now ceased generation (Dungeness B, Hunterston B and Hinkley Point B). To read more about the decommissioning process, click here.