Explanatory Notes

Energy Act 2004

2004 CHAPTER 20

22 July 2004

Commentary on Sections

Chapter 1: Nuclear Decommissioning

Sections 24 and 25: Limit on NDA borrowing and Government guarantees for NDA borrowing

113.Section 24 limits the capacity of the NDA to borrow to £2 billion, the limit which applies to BNFL in the Atomic Energy Act 1971 (c.11). In view of the long timescales involved in nuclear clean up, the Secretary of State can amend that limit by order. Section 25 provides that the Secretary of State may guarantee borrowing by the NDA with the approval of the Treasury.