The main objective of this contract is to present an analysis of the investment portfolio of the funds allocated to the back-end activities of the nuclear fuel cycle (i.e. what are the regulatory limitations for these investments and where the money is currently invested); identify trends, challenges and best practices, taking into account the collection method of the funds, and the assumptions made about their disbursement.

The main objective of this contract is to present an analysis of the investment policy and strategies of the funds allocated to the back-end activities of the nuclear fuel cycle, identifying trends, challenges and best practices and taking into account the expected sources of financing and the assumptions made about their disbursement.

The analysis should include within its scope the funds set aside by all the EU nuclear licensees with decommissioning and radioactive waste management obligations (e.g. nuclear power operators, research institutions, fuel fabrication companies, etc.).

The contractor will have access to the national programmes and reports submitted by Member States to the Commission in the basis of the Council Directive 2011/70/Euratom of 19.7.2011 establishing a Community framework for the responsible and safe management of spent fuel and radioactive waste.

The Commission plans to discuss the findings of the study in the meetings of the Decommissioning Funding Group (DFG), established following Commission Recommendation of 24.10.2006 on the management of financial resources for the decommissioning of nuclear installations, spent fuel and radioactive waste (2006/851/Euratom).

The study will build on existing previous analysis and reports, including:

— communication on a Nuclear Illustrative Programme (PINC) COM(2016) 177 final, and accompanying staff working document SWD(2016) 102 final,

— communication from the Commission to the European Parliament and the Council on the use of financial resources earmarked for the decommissioning of nuclear installations, spent fuel and radioactive waste COM(2013) 121 final,

— comparison among different decommissioning funds methodologies for nuclear installations. Final report on behalf of the European Commission, Directorate-General Energy and Transport, service contract TREN/05/NUCL/S07.55436,

— Commission Recommendation of 24.10.2006 on the management of financial resources for the decommissioning of nuclear installations, spent fuel and radioactive waste (OJ L 330, 28.11.2006, pp. 31–35).