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Hinkley Point C funding decision ‘set for May’

Wednesday 23rd March, 2016

A decision on funding for the Hinkley Point C nuclear power station could be made in May 2016, the project’s developer EDF Energy has suggested.

According to reports, French economy minister Emmanuel Macron has said a final investment decision from EDF, which is 85 per cent state-owned, is expected in early May.

He is also said to have told the French parliament that it is “unlikely” that EDF would elect not to be involved in the project.

A decision on the £18bn plant had previously been expected by 30 March.

The news comes as EDF Energy is set to answer questions at a select committee seassion later today (23 March 2016).

EDF Energy’s chief executive Vincent de Rivaz and managing director of new nuclear build Humphrey Cadoux-Hudson will today give evidence at the government’s Energy and Climate Change Committee as part of the UK New Nuclear Status Update session.

The company is expected to answer the committee’s questions on the investment plans for the new nuclear power station.

EDF chairman and chief executive Jean-Bernard Levy wrote to staff earlier this month to emphasise the power station had the backing of both the French and British governments.

China General Nuclear Corporation has previously agreed a deal to take a one-third stake in the plant, with EDF holding the remainder. This partnership was recently approved by the European Commission.

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