1 April 2026 - Hunterston B becomes first UK AGR Site to transfer to Government for decommissioning

Nuclear Liabilities Fund (NLF) is the independent ring-fenced fund set up in 1996 specifically to pay for the decommissioning of the current nuclear fleet without undue burden on taxpayers. NLF will continue to provide funding for the ongoing decommissioning of the station. This funding secures jobs for the two hundred and forty-six transferring station staff as well as jobs in corporate support functions and the wider supply chain engaged in the decommissioning mission. This funding ensures that the Hunterston B site will be decommissioned and remediated in a way that is safe, sustainable and secure.

NLF CEO Melissa Hope said:

“This is a significant achievement for the team at Hunterston B as well as the many individuals at EDF, NRS and the rest of the NDA group whose collaboration and commitment have made this first-of-a-kind transfer happen."

“It marks the start of the next stage of the important work of decommissioning.”

“NLF is proud of its role in supporting EDF’s successful defueling following the end of generation at Hunterston B. The NLF funding model provides certainty that funds are now available to support safe and secure site remediation. We look forward to working with the station, NRS, the NDA and HM Government going forward to ensure that NLF funds are used to support planning for and innovation in the decommissioning programme, with the aim of this important national task being delivered efficiently and cost-effectively.”

NLF currently holds £16.2bn in National Loans Fund deposits and £4.5bn in a diversified mixed assets portfolio. Our investment strategy, alongside our close working relationship with industry colleagues, will ensure the funds are there to deliver the decommissioning programme for the UK’s existing nuclear power stations and minimise further recourse to Government funds.”

Background

The fund has, to date, met circa £2.8bn of decommissioning costs. This includes circa £370m of costs relating to Hunterston B. NLF’s current funding strategy is to meet near-term decommissioning liabilities using its existing NatLF deposits, while allowing its mixed assets portfolio (MAP) to invest over the long-term. NLF’s 2025 funding review projects that the MAP investments will cover all decommissioning costs from the 2050s to the end of decommissioning in the 2120’s.

NLF operates within a clear governance and accountability framework and works closely with HM Government, EDF and the NDA to ensure funds are used appropriately.