Whether, under amendments to the Government’s business models for the (a) Net Zero Teesside Power (NZT) and (b) Northern Endurance Partnership (NEP) projects, money has been (i) ringfenced for and (ii) committed to compensation for losses that might be incurred by (A) the National Wealth Fund, (B) lending banks, (C) BP, (D) Equinor, (E) TotalEnergies and (F) other investors or equity holders arising from the Judicial Review challenging the lawfulness of the decision by the Secretary of State for Energy Security and Net Zero to grant approval for the joint Development Consent Order underpinning NZT and NEP.
The Department for Energy Security and Net Zero has not ringfenced or committed any funds for compensation related to the entities or matters outlined in the question.Net Zero Teesside’s Development Consent Order (DCO), determined in February 2024, remains in force. Considering the ongoing legal proceedings, it would not be appropriate to comment further at this time.