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New nuclear clean-up proposals laid out

LONDON (Reuters) New nuclear operators in Britain will have to put money aside for the eventual decommissioning of plants to make sure taxpayers won’t have to foot the bill, the government said yesterday.

The new rules will also require operators to secure enough funds in place before building new power stations.

“It’s vital that we give new nuclear operators as much clarity about long term costs as possible,” Energy Minister Charles Hendry said.“At the same time, though, we have to make sure that there is no hidden subsidy and that the taxpayer is protected from costs that are rightly the responsibility of the operator.”

In June, Energy and Climate Change Secretary Chris Huhne warned that Britain faced a £4 billion ($6.32 billion) shortfall in covering the costs of nuclear decommissioning and dealing with waste over the next few years.