About us
We provide impartial scrutiny and advice on the suitability of a Funded Decommissioning Programme (FDP) submitted by the prospective operators of a new nuclear power station. The Board advises the Secretary of State on the financial arrangements that operators submit for approval, and on the regular review of funding. NLFAB’s advice on the Hinkley Point C Funding Arrangements Programme was published in 2016, and following the Secretary of State's approval of the plan, the Board was disbanded. In April 2022 a newly constituted NLFAB was established to give independent advice on the Funded Decommissioning Programme for Sizewell C.
Responsibilities
DECC created the independent Nuclear Liabilities Financing Assurance Board (NLFAB) to provide impartial scrutiny and advice on the suitability of the Funded Decommissioning Programmes (FDPs) submitted by prospective operators of new nuclear power stations.
We advise the Secretary of State on:
- the financial arrangements that operators submit for approval
- the regular review and ongoing scrutiny of funding
Terms of Reference
Priorities
The NLFAB’s priority is to ensure that operators of new nuclear power stations have secure financing arrangements in place to meet the full costs of decommissioning and their full share of waste management and waste disposal costs.
Any operator of a new nuclear power station must have a Funded Decommissioning Programme, approved by the Secretary of State, in place before nuclear-related construction can begin.
Read the minutes from the Board’s meetings from September 2012 onwards.
Minutes from the previous NLFAB meetings are available on the National Archive website