24
WGA discount rate adjustments obscured the actual increase in nuclear decommissioning costs.
Conclusion
The WGA includes several large provisions which change substantially from year to year. For example, the provision for future decommissioning of nuclear facilities has decreased by £126.2 billion from £273.1 billion in 2021–22 to £146.9 billion in 2022–23, with the discount rate decreasing the provision by £131.8 billion.53 We subsequently discovered that the forecast cost to the taxpayer of nuclear decommissioning had actually increased by £11.7 billion in the year 2022–23 , despite the impression given by the figure in the accounts that it had reduced substantially.54 The cost also increased by a further £10.3 billion in 2023–24.55
Government Response
A response document is linked to this report, dated 16 May 2025. Response attribution to this conclusion has not been verified. Read the response document.
Source
Committee
Public Accounts Committee
Report
16th Report - Whole of Government Accounts 2022-23
19 Mar 2025
HC 367
Addressee Bodies
HM Treasury
Timeline
Recommendation age
1.5 yrs
Report published
19 Mar 2025