Notice

Low Carbon Contracts Company designated as revenue collection counterparty for nuclear Regulated Asset Base (RAB) model

Notice given pursuant to Section 16 of the Nuclear Energy (Financing) Act 2022 to designate Low Carbon Contracts Company Ltd as a counterparty for revenue collection contracts for the purposes of the nuclear RAB Model.

From:
Department for Energy Security and Net Zero and Department for Business, Energy & Industrial Strategy
Published
9 June 2022

Documents

Notice of designation of Low Carbon Contracts Company Ltd as a counterparty for revenue collection contracts

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Details

Section 16(1) of the Nuclear Energy (Financing) Act 2022 provides that the Secretary of State may by notice given to an eligible person designate the person to be a counterparty for revenue collection contracts for the purposes of the nuclear Regulated Asset Base (RAB) model.

The revenue collection counterparty’s primary role will be to channel funds between electricity suppliers and nuclear companies benefitting from the RAB model.

The BEIS Secretary of State gave notice to the Low Carbon Contracts Company Ltd (LCCC) on 6 June 2022 designating the company as a revenue collection counterparty under the Act. In accordance with Section 16(8) of the Act, the Secretary of State is also publishing the notice given to LCCC.

Published 9 June 2022