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. NLFAB is an expert committee, which works with the Department for Energy Security and Net Zero.
The Board advises the Secretary of State for Energy Security and Net Zero on the financial arrangements that operators submit for approval, and on the regular review of funding.
NLFAB鈥檚 advice on the Hinkley Point C Funding Arrangements Programme was published in 2016, and following 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
The independent Nuclear Liabilities Financing Assurance Board (NLFAB) was created 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鈥檚 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鈥檚 meetings from September 2012 onwards.