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.