The Government today confirmed its intention to substantially increase the third party liabilities of operators in the event of a nuclear incident.
This follows a public consultation held last year on the UK’s proposals to implement changes made to an international treaty on nuclear third party liability – the Paris and Brussels Conventions, to which the UK and most of the other EU countries are signatories.
Currently, operator liability is limited to £140m per incident. The UK is increasing this to €1.2bn, to ensure that more compensation will be available to a larger number of claimants in respect of a broader range of damage. This €1.2bn is €500 million more than the minimum necessary under the revised Conventions.
The new level will be phased in over five years starting at €700 million when the new regime comes into force and increased annually by €100 million. The changes will apply to existing nuclear operators in the UK as well as any potential new build operators
The Government’s response to the consultation on the Paris and Brussels conventions is available at: http://www.decc.gov.uk/en/content/cms/consultations/paris_brussels/paris_brussels.aspx