Legal Considerations On Regulatory System Of Nuclear Power Project With Prospective Of Private Capital

Pursuant to international practices, from highly centralized control to market competition under regulation is path dependence that performance overweighs cost in nuclear power industry, and the reflection that property efficiency balances regulation and market competition development. System evolution commencing from state sovereignty to private property in China, makes legal system on private capital property efficiency be the focus of attention.Nuclear power project’s administrative monopoly and natural monopoly make the industry centralized controlled by government. Government is often criticized by public as result of inefficiency of nuclear power, “government failure” and “special interest”. Private capital access and its property efficiency provide government with a good chance regarding regulatory transfer, and also becomes the basis of its reasonableness and properness.During the development from high-carbon to low-carbon, nuclear power becomes a strategic choice of China electricity supply. The dilemma of lacking fund and technology innovation and private capital has the potential of 70% successive contribution amount becomes a oblivious contradiction. Private capital invested on nuclear power project has been the capital of formation of nuclear power market and source of governmental regulation. Our nuclear power development should satisfy the requirement of private capital investment and property efficiency, and restructure nuclear power project governmental regulatory system.Japan’s state policy on supporting private enterprises participate in nuclear development, USA’s mode of promoting private enterprises as a shareholder which constitutes new pattern of diversity on property owner of nuclear power project, those two cultivate system environment of nuclear market competition and will be good reference for our country. However, our final objective is to pursue a legal system to promote private capital property efficiency under our power situation and political and economical background.The process from highly centralized control to market competition under regulation needs transfer of legal system. Independence of regulatory institute, improvement of regulatory laws, promotion of marketization on nuclear power and protection on investors of nuclear power, guarantee on balance between governmental regulation and private capital property efficiency, especially legal system motivating as well as adapting market competition under regulation are quite necessary.The balance between demand of current system and supply of ideal system will implement regulatory system of nuclear power project with perspective of private capital in China and as well the development of legislation will witness the progress.