Jurisdiction(s):
United Kingdom

Key definition

risk definition

What does risk mean? In legal practice, risk describes the possibility that a reasonably foreseeable circumstance or event could adversely affect legal rights, regulatory compliance, business operations, or the security of systems and data. The term is widely used across legal contexts, with certain regimes articulating it expressly. Cybersecurity: In the EU NIS2 framework (as transposed in Ireland), risk means any reasonably identifiable circumstance or event having a potentially adverse effect on the security of network and information systems. In the UK, the Network and Information Systems Regulations 2018 adopt a comparable risk‑based approach to security and incident handling; while “risk” is not defined as...

UK nuclear projects: development and operational risks, regulatory and political context, lender concerns, government roles, and practical stakeholder risk allocation

Published by a LexisNexis Energy expert

Practice notes

A clear grasp of the spectrum of risks confronting nuclear projects is essential not just for the project company (and its investors) but also for other principal stakeholders in the civil nuclear sector, such as lenders and government. This Practice Note summarises, at a high level, the following themes relating to nuclear projects and their risk profile:

development phase risks
operational phase risks
specific concerns for lenders
the role played by government, and
practical guidance for negotiating risk allocation between stakeholders

For additional hands-on guidance on financing energy, power and resources projects across various sectors, including those addressed in this Practice Note, see the textbook: Energy and Resources Financing: A Practical Handbook.

What are the key development phase risks in nuclear energy projects?

Nuclear projects encounter several risks during development, such as:

High up-front costs Nuclear ventures involve exceptionally high up-front capital expenditure (CAPEX). The magnitude of the funding need frequently means investors are reluctant to cover these sums with equity alone, and even lenders may lack the capacity to provide financing at the required scale. These considerations are central to negotiations on risk allocation among stakeholders...

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Web page updated on 22/05/2026

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