As citizens of the United Kingdom and others around the world mourn the death of Queen Elizabeth II, many have reflected on how the world has changed during the seven decades of the queen’s reign—the same decades that saw the rise of civilian nuclear power.

Calder Hall was already under construction at the Sellafield site in West Cumbria when Princess Elizabeth became queen in 1953. Queen Elizabeth traveled to the site in October 1956 and declared, in a televised ceremony, that “It is with pride that I now open Calder Hall, Britain’s first atomic power station.” Watch the fanfare in a historical clip uploaded to YouTube by Sellafield Ltd below.

A new funding model has been introduced by the U.K. government to attract a wider range of private investment into new nuclear power projects, cutting the cost of financing them and reducing the cost to consumers.

The Nuclear Energy (Financing) Bill, announced by the government on October 26, will use a model known as the Regulated Asset Base (RAB) to fund future nuclear power plants in Britain. The model is tried and tested, according to the government, and has successfully financed other infrastructure projects, such as the U.K.’s Thames Tideway Tunnel and Heathrow Terminal 5.

Learn more about the RAB model.