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Hinkley Update re Government delays

Friday 29th July, 2016

Unfortunately, plans to build the first new UK nuclear plant in 20 years have suffered an unexpected delay after the government postponed a final decision until the early autumn.

French firm EDF, which is financing most of the £18bn Hinkley Point project, approved the funding at a board meeting. Contracts were to be signed today, Friday. But with a surprise twist business Secretary Greg Clark has said the government will “consider carefully” before backing it.

EDF chief executive Vincent de Rivaz has cancelled a trip to Hinkley Point following Mr Clark’s comments.

The opposition to the project voice concerns regarding the cost of electric to end users and that the plant is being built by foreign governments. One third of the £18bn cost is being provided by Chinese investors.

We now expect this decision to be made in the Autumn. The Chamber remains confident this project will happen but is again frustrated by yet a further delay, all but a different one.

Regards

 

Steve Leahy (Chair)

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