MPs have written to the energy secretary to ask if a Plan B exists in the event of the collapse of EDF’s deal to build an £18 billion nuclear power station at Hinkley Point in Somerset. Angus MacNeil, chairman of the energy committee, wrote to Amber Rudd to express disappointment at the energy company’s failure to both set a firm timeline for the project and to make a final investment decision. “Given the uncertain timetable, I would like to know what contingency plans you have in place in case Hinkley Point C does not materialise . . . what the costs would be to the UK,” Mr MacNeil wrote. There has been growing concern about the cost of the project. MPs on the committee asked about the terms of a 2013 deal to pay EDF a guaranteed price for electricity of Â£92.50 per megawatt hour, treble the current wholesale price, for 35 years. “The track record to date at Hinkley and overseas does not inspire confidence,” Mr MacNeil wrote.
Times 25th March 2016 read more »
A British parliamentary committee has asked the Secretary of State for Energy and Climate Change to outline any contingency plans and potential costs if the Hinkley Point C nuclear project collapses. The 18 billion pound project was announced in October 2013 and the plant is seen as vital to securing British electricity supply, but a final investment decision has been delayed while developer EDF seeks partners and financing.
Reuters 24th March 2016 read more »
The U.K. won’t struggle to keep the lights on if Electricite de France SA decides not to proceed with its 18 billion-pound ($25 billion) plan to build a new nuclear-power plant at Hinkley Point in southwest England, Energy Secretary Amber Rudd said. Britain has nine years to fill any gap in generation created by the loss of a 3.2-gigawatt project that could produce 7 percent of the country’s electricity supply, Rudd said in an interview Thursday. “If there were any delay, we would have plenty of time to arrange replacements,” Rudd said after giving a speech near Rochester in southeast England. “It’s absolutely not right to think that there will be some sort of black hole in 2025.”
Bloomberg 24th March 2016 read more »
Asked by Conservative MP James Heappey why it was “reasonable for us to assume it but not reasonable for you to just say it”, EDF chief executive M Vincent de Rivaz responded: “I am very pleased to give you the privilege to make the assumption and to draw the right conclusion as you have done.”
Dr David Lowry 24th March 2016 read more »
Energy Secretary Amber Rudd has refused to accept a £100 wager to guarantee further public subsidies will not be offered to a delayed nuclear power station. Ms Rudd insisted the multibillion-pound Hinkley Point C project will go ahead although she came under pressure to assure MPs it will not be at any cost and also hit UK taxpayers. Labour’s Rob Marris (Wolverhampton South West) warned “ridiculously large” subsidies have already been offered by the UK Government to the project. He added: “I bet the minister £100, proceeds to charity of course, that that nuclear power station will not be built without even more public subsidy being offered.
Western Daily Press 24th March 2016 read more »
Energy Voice 24th March 2016 read more »
ITV 24th March 2016 read more »
The Chinese nuclear developer part-funding Hinkley Point C has said it wants to be heavily involved in the construction of new nuclear plants in the UK. Speaking to MPs on the Energy Select Committee, Zhu Minhong, general director of UK nuclear projects at China General Nuclear (CGN), said that in addition to its investment in EDF’s Somerset plant, his firm wants to bring its “expertise and experience” to Hinkley and further nuclear schemes in the UK. Under CGN’s funding deal with EDF, the Chinese nuclear giant has already agreed to help fund Hinkley and to partner on construction of further plants at Sizewell in Suffolk and Bradwell in Essex. At Bradwell CGN is expected to lead on development and construction itself. Minhong told MPs the final terms of CGN’s funding deal with EDF for Hinkley is “practically completed” and the firm is “confident” it will go ahead. CGN has a 33% stake in the £18bn project. In China. In China CGN is developing five nuclear power plants and has plans to develop four more. It also operates two completed plants. Minhong added: “We hope through our participation in [Hinkley] we can learn how to develop nuclear power sites in the UK.”
Building 24th March 2016 read more »