The decommissioning and waste disposal costs for all new nuclear power stations in the UK will be met by the private sector, UK energy minister Malcolm Wicks has told the Financial Times.

Speaking to the Financial Times, Mr Wicks said that the next energy bill will specify how industry would be contributing to a fund to be used for disposing of radioactive waste from new plants. Industry would also be paying for the construction and operation of new power stations. The plan would also ensure that the taxpayer is protected from liabilities arising from unexpected costs.

Mr Wicks confirmed that the existing reactor sites would be the most likely locations for the new plants.