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EnactedRoyal Assentc. 15

Nuclear Energy (Financing) Act 2022

This bill became lawView the statute on acthub →c. 15 · 31 Mar 2022

Bill texts 3

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Amendments 34

Committee stage — Lords 20

NotMovedClause 3EditBillBody

at end insert— detail of any public funding agreed as part of the project development and the services being provided for this funding.”

Moved: Lord Foster of BathSponsor: Lord Oates#91481
NotMovedClause 3EditBillBody

at end insert— publish an independent assessment of the impact on consumer energy bills.”

Moved: Lord OatesSponsor: Baroness Bennett of Manor Castle#91486
NotMovedClause 2EditBillBody

at end insert— the Secretary of State is of the opinion that the United Kingdom’s generation capacity will include sufficient backup capability should the nuclear energy generation project suffer significant outages or be unable to generate electricity entirely, and has laid before Parliament a report setting out the reasons for that opinion.”

Moved: Lord OatesSponsor: Lord Teverson#91487
WithdrawnClause 2EditBillBody

at end insert “and has laid a report before Parliament setting out the reasons for that opinion, including— an estimate of the electricity price payable to the company over the period during which the nuclear energy generation project is generating electricity, and the modelling, assumptions and all relevant material underlying such an estimate;

Moved: Lord OatesSponsor: Lord Teverson, Baroness Bennett of Manor Castle#91488
WithdrawnClause 3EditBillBody

at end insert— the relevant upper tier local authority covering the site for the nuclear project;”

Moved: Lord Foster of Bath#91497
NotMovedClause 2EditBillBody

at end insert— In this section “sufficiently advanced” has the meaning given to it by guidance published by the Department for Business, Energy and Industrial Strategy.”

Moved: Lord Foster of BathSponsor: Lord Teverson, Baroness Bennett of Manor Castle#91498
WithdrawnClause 2EditBillBody

leave out from “project” to end and insert “will result in value for money, as evidenced by the publication of the Value for Money assessments conducted to date.”

Moved: Lord Foster of BathSponsor: Lord Teverson#91499
NotMovedClause 2EditBillBody

at end insert— the nuclear company is a company registered in England and Wales or in Scotland.”

Moved: Baroness Bennett of Manor Castle#91526
NotMovedClause 2EditBillBody

at end insert— the nuclear company is one or more of the following—

Moved: Baroness Bennett of Manor Castle#91527
WithdrawnClause 2EditBillBody

at end insert “and a geological disposal facility for the disposal of high-level nuclear waste has been constructed in the United Kingdom and is operational, such that the full life costs of construction and decommissioning of a nuclear energy generation project can be accurately quantified prior to designation.”

Moved: Lord OatesSponsor: Lord Teverson#91530
NotMovedClause 3EditBillBody

at end insert— Where conditions are imposed under subsection (5)(c), these may include duties on the nuclear company to—

Moved: Lord McNicol of West Kilbride#91786
NotMovedClause 2EditBillBody

at end insert— the Secretary of State is of the opinion that—

Moved: Lord McNicol of West Kilbride#91787
NotMovedClause 2EditBillBody

at end insert— the nuclear company is not owned, wholly or in part, by a foreign power, and

Moved: Lord McNicol of West KilbrideSponsor: Lord Oates#91788
WithdrawnClause 1EditBillBody

at end insert— “Owned by a foreign power” means owned by a company controlled by a foreign state and operating for investment purposes.”

Moved: Lord McNicol of West KilbrideSponsor: Lord Oates#91789
NotMovedClause 3EditBillBody

at end insert— impose conditions providing for—

Moved: Lord Wigley#91830
NotMovedClause 3EditBillBody

at end insert— details of conditions imposed by the Secretary of State under subsection (6)(c), and”

Moved: Lord Wigley#91831
WithdrawnClause 1EditBillBody

at end insert— “Nuclear energy generation” includes the generation of energy by either nuclear fission or nuclear fusion.”

Moved: Lord Wigley#91832
NotMovedClause 2EditBillBody

insert— the Secretary of State is satisfied that the identity of any party which directly or indirectly owns or controls more than 10% of the nuclear company has been verified.”

Moved: Lord Vaux of Harrowden#91834
NotMovedClause 3EditBillBody

at end insert “, including— the anticipated electricity generation of the nuclear project, and

Moved: Lord McNicol of West Kilbride#91917
NotMovedClause 3EditBillBody

at end insert— persons living or regularly working within a 50 mile radius of the proposed site;”

Moved: Baroness Bennett of Manor Castle#91927

Report stage — Lords 14

DisagreedClause 19EditBillBody

at end insert— Revenue regulations must make provision to prevent electricity suppliers from recovering the costs of paying a revenue collection counterparty from customers claiming Universal Credit, or any legacy benefits specified in the regulations.”

Moved: Lord OatesSponsor: Lord Teverson, Lord McNicol of West Kilbride, Baroness Bennett of Manor Castle#92047
NotMovedClause 41AddClauseOrSchedule

Insert the following new Clause— “UK Green Taxonomy

Moved: Lord RavensdaleSponsor: Baroness Neville-Rolfe, Viscount Trenchard#92327
NotMovedClause 5AddClauseOrSchedule

Insert the following new Clause— “Changes in significant control of designated nuclear companies to be notified

Moved: Lord Vaux of Harrowden#92381
NotMovedClause 5EditBillBody

leave out “either” and insert “any”

Moved: Lord Vaux of Harrowden#92382
NotMovedClause 2EditBillBody

at end insert— the Secretary of State is satisfied that the identity of any party (“X”) which meets one or more of the following conditions in relation to the nuclear company (“Y”) has been verified—

Moved: Lord Vaux of Harrowden#92383
NotMovedClause 13AddClauseOrSchedule

Leave out Clause 13 and insert the following new Clause— “Sensitive material

Moved: Lord OatesSponsor: Lord Stunell#92384
WithdrawnClause 2EditBillBody

leave out from “project” to end and insert “will result in value for money, as evidenced by the publication of the Value for Money assessments conducted to date.”

Moved: Lord OatesSponsor: Lord Foster of Bath#92385
NotMovedClause 2EditBillBody

at end insert— the Secretary of State—

Moved: Lord OatesSponsor: Lord Stunell#92386
WithdrawnClause 31EditBillBody

at end insert— Nothing in this Part prevents the Secretary of State establishing a Government-owned company into which the assets, liabilities and undertakings of the relevant licensee nuclear company may be transferred in order to allow electricity supply to be commenced or continued.”

Moved: Lord McNicol of West Kilbride#92387
NotMovedClause 3AddClauseOrSchedule

Insert the following new Clause— “Barring of certain foreign powers or entities from involvement in UK civil nuclear projects

Moved: Lord McNicol of West Kilbride#92388
WithdrawnClause 3EditBillBody

at end insert— Where conditions are imposed under subsection (5)(c), these may include duties on the nuclear company to—

Moved: Lord McNicol of West Kilbride#92389
DisagreedClause 2EditBillBody

at end insert— the nuclear company is not owned, wholly or in part, by a foreign power or entity listed in regulations made under section (Barring of certain foreign powers or entities from involvement in UK civil nuclear projects).”

Moved: Lord McNicol of West Kilbride#92390
NotMovedClause 44EditBillBody

at end insert— Part 3 (except as mentioned in subsection (1)(c)) comes into force on such day as the Secretary of State may by regulations appoint, but the Secretary of State may not appoint such a day unless the Secretary of State—

Moved: Baroness Bennett of Manor Castle#92391
NotMovedClause 44EditBillBody

leave out paragraph (c)

Moved: Baroness Bennett of Manor Castle#92392