Electricite de France SA may lose its credibility as one of the world’s top nuclear-power developers if it fails to build two new reactors on England’s southwest coast, a U.K. energy minister said. EDF has delayed until September its final investment decision on Hinkley Point C, the world’s most expensive power station, marking a setback for a project that was originally due to be completed in 2017. The latest date for commissioning is 2025, at which point it may provide 7 percent of the country’s power. “A huge amount of EDF’s credibility as a nuclear developer will rely on this deal getting done,” Andrea Leadsom, a junior minister at the Department of Energy and Climate Change, told reporters at an event in London on Tuesday where she was campaigning for the U.K. to leave the European Union. The U.K. will have to “fight quite hard” to ensure the 24.5 billion pound ($35.5 billion) power plant isn’t blocked by a legal challenge from Austria, which objects to the U.K. government’s proposed subsidies for Hinkley, she said. “Being a member of the EU could scupper the deal because of the state aid challenge from Austria.”
Bloomberg 17th May 2016 read more »
The UK government is confident “there is a deal to be done” with EDF Energy on Hinkley Point C, but notes that it would not and could not influence the speed at which the utility makes a final investment decision (FID) on the project. “We recognise that the matter now rests with the equity. That’s a commercial matter and we have to allow that to play out,” said Jeremy Allen, head of procurement and investor relations at the Department of Energy and Climate Change.
World Nuclear News 18th May 2016 read more »