Notice

Sizewell C: Regulated Asset Base (RAB)

The Sizewell C capital structure will be backed by the nuclear Regulated Asset Base (RAB) funding model.

• From: Department for Energy Security and Net Zero
• Published: 22 July 2025
• Last updated: 9 September 2025 — See all updates

Documents

Nuclear Regulated Asset Base (RAB) Licence: special conditions

PDF, 2.42 MB, 427 pages

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Sizewell C (SZC) project specification

PDF, 287 KB, 24 pages

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Sizewell C (SZC) Cost of Debt Adjustment (CDA) calculation model

MS Excel Spreadsheet, 4.55 MB

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Details

The Sizewell C capital structure will be backed by the new funding model - the nuclear Regulated Asset Base (RAB).

The RAB structure will be regulated by the UK’s independent energy regulator, Ofgem.

The Cost of Debt Adjustment (CDA) Calculation Model forms part of Special Condition 39 of the Licence. It will work with the Price Control Financial Model (PCFM) which is published by Ofgem.

Revenues will be collected from electricity suppliers by the Low Carbon Contracts Company, previously designated as the counterparty for revenue collection contracts for the purposes of the nuclear RAB model.

Published 22 July 2025

Last updated 9 September 2025 + show all updates

1. 9 September 2025

   Published the Sizewell C Cost of Debt Adjustment (CDA) calculation model.

2. 22 July 2025

   First published.