Friday 22 July 2016

EDF to make final investment decision on Hinkley next week

EDF expects to make a final investment decision on the Hinkley Point C (HPC) project next week.

The French Government-controlled firm has called its Board of Directors to a meeting on the 28th of July about the £18 billion nuclear project.

The company has repeatedly delayed making a final decision on the project, which has received a £2 billion investment from the UK Government and £6 billion from China.

In April, the firm delayed it due to a consultation with trade unions.

EDF said in a statement: "The HPC Project is a major element of the Group's CAP 2030 strategy. The two EPR reactors at Hinkley Point would strengthen EDF's presence in Britain, a country where its subsidiary EDF Energy already operates 15 nuclear reactors and is the largest electricity supplier by volume."

The announcement follows a report from DECC which estimated the cost HPC could reach £37 billion over its lifetime.