FDP meaning

FDP (Funded decommissioning programme) is the statutory programme setting out how a nuclear operator will secure and meet the full costs of decommissioning, clean-up, and radioactive waste management and disposal for a new nuclear power station. Under the Energy Act 2008, construction in the UK may not commence without a Secretary of State–approved FDP, and the operator must comply with it thereafter, reviewing and updating it as required. The Secretary of State can approve with conditions and require modifications. An FDP typically provides for payments into a segregated, insolvency‑remote (bankruptcy‑remote) and independently managed fund, supported by prudent cost estimates, financing and risk‑management measures, and governance for monitoring, assurance and change control. The Nuclear Liabilities Financing Assurance Board (NLFAB) is a non‑statutory, independent advisory body established by the Secretary of State to scrutinise FDPs and advise on their suitability. Departmental oversight currently sits with the Department for Energy Security and Net Zero. The regime is consistent across England & Wales, Scotland and Northern Ireland. The concept is not used in the Republic of Ireland, where nuclear electricity generation is prohibited, though Irish practitioners may encounter FDPs in cross‑border or financing contexts. FDPs are central to consenting, project financing and M&A due diligence for...