New nuclear - Intergenerational fairness for bill payers?
Christophor Ward, Government Actuary's Department (GAD)
A nuclear power plant can be a 140+ year commitment, through both its operational and decommission periods. It is crucial that the costs of decommissioning are planned for, and those costs are shared fairly across bill payers - as well as suitably minimising the risks of future taxpayers picking up any shortfall.
In this presentation join colleagues from GAD to look at how actuarial modelling helps government understand those future decommissioning costs, how a fund can be built up before those costs are due, and the risks that could lead to government stepping in if the fund runs out of money too soon...
This session will include introductions to concepts such as discounting, incorporating prudence, and inflation, and how these can be applied to other funding analysis – great explainers for anyone using the government’s Green Book, or doing any sort of forward looking project appraisal.
Learn how how detailed analysis and communicating the results of it can help you tell a story, in non-analytical terms, to decision makers, thereby applying analysis in an accessible format and making an impact.
The concepts in this session will be explained in non-actuarial terms so that all audience members should be able to understand. Attendees will learn how GAD uses modelling to project scenarios that help us to understand risk (mainly financial)
Join this session, learn about some of the ways that actuarial thinking could be applied, and better knowing when to apply it yourself, and when to seek support from GAD or other analysts.
About the presenters
Chris Ward is Investment Lead in the Government Actuary's Department (GAD).
GAD provides actuarial solutions, including financial risk analysis, modelling and advice, to support the UK public sector. GAD is a non-ministerial department.
The presenting team includes members of the Government Actuary's Department (GAD) profession - as GAD is both a department and a profession!
What you could learn in this session
- Learn about the long-term funding process for nuclear energy and the assumptions involved in the modelling, as well as the risks involved in the process
- Communicating results of analysis / communicating with impact
- Having a positive impact on decision making / evidence based decision making
- Using analysis to influence and impact policy formation / collaborating with Policy Profession
- Demonstration of a technique or tool that helped the team make an impact
Secure your space today!
About AiG Month (1-31 May 2025)
- Analysis in Government Month (AiG Month) is the UK's largest learning and development event for government analystsThe Analysis Function has around 17,000 members working across analysis professions and government departmentsThis event is part of Analysis in Government (AiG) Month, brought to you by the Analysis Function
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