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Energy Act 2004

Energy Act 2004

2004 CHAPTER 20

Commentary on Sections

Chapter 5: Miscellaneous Provisions Relating to Nuclear Industry

Section 79: Expenditure on nuclear related matters

221.Section 79 gives the Secretary of State statutory authority to incur expenditure as a result of options included in the documents relating to the restructuring of British Energy. The provision is general, but goes further than the free-standing provisions in EMPA by authorising spending on two elements of the agreements not currently covered by legislation:

  • In circumstances where British Energy has sold one of its nuclear power stations to a third party, the acquisition of the power station from that third party and subsequently operating it. This would follow the exercise of an option on the part of HMG to acquire the station for this purpose; and

  • The acquisition of British Energy’s shareholding in Nirex, and to incur expenditure on any consequences of such an acquisition.

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