§ Llew SmithTo ask the Secretary of State for Trade and Industry what level of public funds will be made available to British Energy in respect of the agreement announced in her written statement of 14 October 2003,Official Report, columns 10–12WS. [133310]
§ Mr. TimmsGovernment's underlying commitment is the same as it was last year. Up until restructuring, we have made the credit facility (currently £200 million) available to British Energy, which has been approved by the European Commission. That will be repaid by the company under the terms of the restructuring plan at no cost to the taxpayer. Post restructuring we will take financial responsibility for British Energy's historic spent fuel liabilities, with an average cost to Government of £150 to £200 million per annum for the next 10 years, falling thereafter. We will also underwrite British Energy's arrangements for funding decommissioning and uncontracted liabilities to the extent that British Energy's contributions are insufficient.