{"id":314,"date":"2017-07-20T17:23:58","date_gmt":"2017-07-20T17:23:58","guid":{"rendered":"http:\/\/www.katmal.co.uk\/wordpress\/?p=314"},"modified":"2024-12-09T14:42:43","modified_gmt":"2024-12-09T14:42:43","slug":"costs-of-decommissioning-uk-nuclear-industry","status":"publish","type":"post","link":"https:\/\/katmal.co.uk\/wordpress\/index.php\/2017\/07\/20\/costs-of-decommissioning-uk-nuclear-industry\/","title":{"rendered":"Costs of decommissioning UK nuclear industry"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-318 aligncenter\" src=\"http:\/\/www.katmal.co.uk\/wordpress\/wp-content\/uploads\/2017\/07\/costofdecom-300x119.png\" alt=\"cost of decommissioining\" width=\"507\" height=\"201\" \/><\/p>\n<p>The NDA have issued a statement on the estimated costs of decommissioning the parts of the UK nuclear industry that they are responsible for <a href=\"https:\/\/www.gov.uk\/government\/publications\/nuclear-provision-explaining-the-cost-of-cleaning-up-britains-nuclear-legacy\/nuclear-provision-explaining-the-cost-of-cleaning-up-britains-nuclear-legacy\">(here<\/a>).<\/p>\n<p>It shows total costs in the range \u00a397 billion &#8211; \u00a3222 billion with a best estimate of \u00a3119 billion over 120 years. Discounted cost is put at \u00a3164 billion which is higher than the unadjusted cost\u00a0because the NDA now use negative discounting rates as explaining in the supporting document from the Treasury (<a href=\"https:\/\/www.gov.uk\/government\/uploads\/system\/uploads\/attachment_data\/file\/488228\/PES__2015_08_-_discount_rates_-_for_publishing.pdf\">here<\/a>) but more clearly in an Annex to the Annual Report (<a href=\"https:\/\/www.gov.uk\/government\/uploads\/system\/uploads\/attachment_data\/file\/626585\/Appendix_A_-_Nuclear_Provision.pdf\">here<\/a>).<\/p>\n<p>The current value of \u00a3164 billion compares to \u00a3160.6 billion a year ago. This includes \u00a31.3 billion being added to the estimated cost of completing the job. Inflation and\u00a0changes to the discount rates being applied explains the rest of the increase.<\/p>\n<p>So despite \u00a33.243 billion being spent and an\u00a0Annual Report talking of good\u00a0progress\u00a0the estimated cost to completion is more than it was at the start of the reporting period.<\/p>\n<p>The Annual Report admits that \u00a3100 million was spent in compensation following the flawed contest for the Magnox contract.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The NDA have issued a statement on the estimated costs of decommissioning the parts of the UK nuclear industry that they are responsible for (here). It shows total costs in the range \u00a397 billion &#8211; \u00a3222 billion with a best estimate of \u00a3119 billion over 120 years. Discounted cost is put at \u00a3164 billion which &hellip; <a href=\"https:\/\/katmal.co.uk\/wordpress\/index.php\/2017\/07\/20\/costs-of-decommissioning-uk-nuclear-industry\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Costs of decommissioning UK nuclear industry<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6,8],"tags":[],"class_list":["post-314","post","type-post","status-publish","format-standard","hentry","category-interesting-publications-events","category-nuclear-industry-reports"],"_links":{"self":[{"href":"https:\/\/katmal.co.uk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts\/314","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/katmal.co.uk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/katmal.co.uk\/wordpress\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/katmal.co.uk\/wordpress\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/katmal.co.uk\/wordpress\/index.php\/wp-json\/wp\/v2\/comments?post=314"}],"version-history":[{"count":1,"href":"https:\/\/katmal.co.uk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts\/314\/revisions"}],"predecessor-version":[{"id":1411,"href":"https:\/\/katmal.co.uk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts\/314\/revisions\/1411"}],"wp:attachment":[{"href":"https:\/\/katmal.co.uk\/wordpress\/index.php\/wp-json\/wp\/v2\/media?parent=314"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/katmal.co.uk\/wordpress\/index.php\/wp-json\/wp\/v2\/categories?post=314"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/katmal.co.uk\/wordpress\/index.php\/wp-json\/wp\/v2\/tags?post=314"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}