Every year, over 80 million passengers pass through Heathrow Airport and the global transport hub is every bit a British success story. But the construction of Terminal 5 is as much a success story for the Regulated Asset Base (RAB) model, which has successfully funded not just the airport, but the Thames Tideway Project as well.

Attention has since turned to whether the RAB model could help the nuclear sector, which is often riven by funding issues. Supporters of RAB argue it will significantly lower the cost needed to build new nuclear plants, while opponents insist that it is an invitation for the developers to adopt a cost-no-object approach to project development.

Which view is correct? Well, it turns out, both – to an extent.

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