I feel duty bound to keep loyal readers of the blog completely up to date with the slowly unfolding Hinkley Point meltdown – spasm by agonising spasm. Three important updates; Jean-Bernard Lévy, CEO of EdF, has just threatened to cancel the Hinkley Point deal unless the French Government provides even more subsidy for the project than it is already doing; The Cour des Comptes (the French equivalent of our National Audit Office) has just urged EdF to reconsider its investment in the two EPRs at Hinkley Point, given the ‘financial stress’ that the company is currently facing – and the near inevitability of cost overruns and time delays should the project (ever) go ahead; And what might well be influencing the Court des Comptes is the increasingly likely possibility that the steel reactor vessel EdF has constructed for the EPR at Flamanville may be so seriously flawed (through high concentrations of carbon, with a correspondingly high risk of cracking) as to require it to be broken out of the reactor building for repairs. This would be an unbelievably expensive and time-consuming process. This is of course a deal that has nothing to do with market reality. Nothing to do with affordability, let alone with the UK’s ‘hard-working families’ that Secretary of State Amber Rudd keeps bleating on about. And nothing to do with addressing our climate change responsibilities. By contrast, it’s got everything to do with political leaders in three nations (the UK, France and China), all of which ‘need’ Hinkley Point to happen for grubby geopolitical interests of their own. And that’s what it all now comes down to: three powerful nations versus the market. A titanic battle for our time if ever there was one.
Jonathon Porritt 14th March 2016 read more »
EDF’s CGT union said in a note to staff that management could push for a final investment decision on the 18 billion pound (23 billion euros) project at a March 30 board meeting.
Reuters 11th March 2016 read more »
EDF’s boss has warned that Hinkley Point nuclear plant will not go ahead without fresh financial support from the French government. Jean-Bernard Levy wrote to employees to say that EDF was in talks with officials to get the government to commit to funding and help the energy company to secure its position. ‘It is clear that I will not engage in this project as long as these conditions are not met,’ Levy wrote, without outlining EDF’s demands.
Daily Mail 14th March 2016 read more »
EDF is negotiating with the French government to obtain further financial support for the Hinkley Point C project in the UK, EDF chairman and CEO Jean-Bernard Lévy has said. A review of the project has identified areas where the project could further be de-risked, he said.
World Nuclear News 14th March 2016 read more »
EDF chairman Jean-Bernard Levy says he is “confident” that the Hinkley Point C nuclear power station will go ahead.
BQ Live 14th March 2016 read more »