UK Nuclear Decommissioning Authority

Context

PwC has been appointed by the Nuclear Decommissioning Authority (NDA) to provide advice on the financing options for a radioactive waste geological disposal facility. The importance of a long-term strategy and funding framework for geological disposal becomes more and more important as decommissioning of existing plant becomes due and existing storage facilities near the end of their planned life. A proposed EU directive requires national programmes, indicating when, where and how member states will construct and manage final repositories aimed at guaranteeing the highest safety standards.

Deliverables

PwC’s work for the NDA involves:
  • Analysing the alternative options available for project development under a range of public, private and PPP delivery variants based on international experience in the nuclear sector and of PPP more generally;
  • Defining a limited number of well defined options for the financing of the new radioactive waste geological disposal facility;
  • Considering financing options in the context of the nuclear industry and other sectors, in the UK and internationally, and;
  • Developing a high level consideration of the merits of the options proposed.

Comment

“One of the key factors in financing a new nuclear power station is making sure the costs of long-term waste management are well understood. The NDA project on the siting, financing and charging options for geological disposal facility will be very important for the development of the next generation of nuclear installation. The outcome will be a vital part of the business model assumptions for these projects.” (PwC)