RESPONSIBLE LIABILITIES MANAGEMENT - NEITHER LENDER NOR BORROWER BE

Liabilities management is the description the nuclear industry uses fo r looking after its future obligations for spent fuel management, wast e management and decommissioning arising from today's operations and m anaging, as responsibly and cost-effectively as possible, the discharg e of those similar obligations that have arisen from the past. This pa per considers how the reshaping of the industry over recent years has influenced financial responsibilities and liabilities and how these li abilities compare with other industries. The paper moves on to discuss the issues of ethics and generic and environmental principles and exp lains how Magnox Electric has applied these principles to its manageme nt liabilities strategy.