01278 228004

Chamber News

You are here: 

Hinkley Point C funding decision delayed until September

Tuesday 26th April, 2016

A decision on funding for the proposed £18bn Hinkley Point C nuclear power station is set to be further delayed until September 2016.

Energy giant EDF, which is behind the plant, confirmed a recapitalisation at a board meeting last week (22 April) that will enable its investment programme, including the Somerset facility.

It also announced it was to begin consultation with the union-management council Comité Central d’Enterprise that would push back a decision until summer.

French economy minister Emmanuel Macron has now told newspaper Journal du Dimanche that a decision is expected in September.

He had previously said that a final investment decision from EDF, which is 85 per cent state-owned, was expected in early May.

In a statement, EDF Energy said: “Confirmation of the significant recapitalisation of EDF agreed by the board makes it possible for EDF to proceed with its strategic investment programme – including Hinkley Point C.

“The board has decided to undertake a formal, non-binding consultation process with the Comité Central d’Enterprise. This is well understood statutory process of 60 days and the company will work with the CCE to define the detailed steps to reach a conclusion this summer.”

China General Nuclear Corporation has previously agreed a deal to take a one-third stake in the plant, with EDF holding the remainder.

Latest news

Reopening non-essential retail
April 9, 2021

Sedgemoor District Council is working with shop-keepers, traders and larger national chain stores to prepare for the re-opening of High Streets and retail centres, following the Government announcement that non-essential shops can open from Monday, April 12th.   Pavement stencilling has been refreshed in Bridgwater, Highbridge, Burnham, Wedmore and Cheddar to remind people to keep their…

Read More
Ibis Bridgwater becomes first uk hotel to fully showcase Accor’s Ibis plaza design concept
April 8, 2021

Accor has this week opened the largest internationally-branded hotel in the Somerset town of Bridgwater; the 144-room ibis Bridgwater. Operated by Cycas Hospitality as part of a management agreement with Zeal Hotels and Sandgate Investors, the new-build property is the first ibis hotel in the UK to showcase the brand’s new Plaza design throughout. The…

Read More
Recovery Loan Scheme launches today
April 6, 2021

A new government-backed loan scheme launches today (6 April) to provide additional finance to those businesses that need it. new loan scheme will provide further support to protect businesses and jobsloans will include 80% government guarantee and interest rate capgovernment has backed £75 billion of loans to date as part of unprecedented £350 billion wider…

Read More
Free advice on offer for Green start-ups
April 6, 2021

Somerset’s local authorities are providing free business advice to people wanting to set up their own Green business. The workshops, run by Business West advisers, are fully funded by Somerset County Council and the four District Councils:  Mendip, Sedgemoor, Somerset West and Taunton and South Somerset. The project is being funded through a Business Rates…

Read More