Hinkley decision pushed to September
26 Apr 2016
The final investment decision on Hinkley Point C nuclear plant has been postponed until September, says French economy minister Emmanuel Macron.
In an interview with Le Journal du Dimanche, Macron confirmed the nuclear project would still go ahead, and said the French government was committing an extra €5 billion (£3.8bn) to help EDF Energy improve its financial situation.
Hinkley Point C will go ahead because we have the expertise
EDF Energy CEO Vincent de Rivaz
A statement from EDF Energy said “significant recapitalisation” of the company would make it possible to proceed with constructing the nuclear plant in Somerset.
Likewise, in a meeting with the UK energy and climate change committee in March, EDF Energy’s chief executive officer Vincent de Rivaz said the project would be delivered by 2025.
“Hinkley Point C will go ahead because we have the expertise, the supply chain and the right team, which includes our partner China General Nuclear (CGN),” de Rivaz told the committee.
In response to the renewed investment delays, Angus MacNeil, chairman of the energy and climate change committee, said: “When EDF appeared before us in March, company bosses were insisting that a decision would be made in May. At that hearing we said that we would call them back in if that timetable slipped again and that’s what we are doing now.
“If Hinkley does not go ahead it could have huge implications for our future energy security and efforts to cut climate-changing emissions. We will therefore be watching progress on this closely. If we have to see EDF back here in September as well, we will.”
In October last year EDF Energy confirmed a strategic investment agreement with CGN over the construction of Hinkley Point C.
As part of the agreement, EDF Energy took a 66.5% stake in the £18 billion nuclear project, while China’s CGN took the remaining 33.5% at a cost of £6 billion.
