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EDF to decide on Hinkley Point next week EDF to decide on Hinkley Point next week
(35 minutes later)
EDF will finally decide whether to proceed with a new nuclear power station at Hinkley Point in Somerset next week.EDF will finally decide whether to proceed with a new nuclear power station at Hinkley Point in Somerset next week.
The French government-controlled energy giant said on Thursday night that its board of directors would meet on Thursday 28 July. The final investment decision on whether to build two reactors at Hinkley Point is on the agenda for the meeting.The French government-controlled energy giant said on Thursday night that its board of directors would meet on Thursday 28 July. The final investment decision on whether to build two reactors at Hinkley Point is on the agenda for the meeting.
Related: Hinkley Point: new UK chancellor determined to start building
EDF had said in April that it was delaying a final decision until September while it consulted with trade unions. The company has repeatedly delayed making a final decision on the project because of concerns about its £18bn cost.EDF had said in April that it was delaying a final decision until September while it consulted with trade unions. The company has repeatedly delayed making a final decision on the project because of concerns about its £18bn cost.
Related: Brexit could force multibillion-pound projects to be scrapped, says NAO chief
It said: “The two 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.”It said: “The two 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 company added that the project – Hinkley Point C – “is a unique asset for French industry as it would benefit the whole of the nuclear industry and support employment in major companies and smaller enterprises in the sector”. The company added that the project, Hinkley Point C, “is a unique asset for French industry as it would benefit the whole of the nuclear industry and support employment in major companies and smaller enterprises in the sector”.
The French company said in April that its works council would be consulted on the terms of the partnership with the Chinese company, CGN. The Chinese group has said it would not go ahead on the project by itself if EDF drops out.The French company said in April that its works council would be consulted on the terms of the partnership with the Chinese company, CGN. The Chinese group has said it would not go ahead on the project by itself if EDF drops out.
Business and energy secretary Greg Clark said: “New nuclear is an essential part of our plan for a secure, clean and affordable energy system that will power the economy throughout this century. This is a welcome decision from EDF, and we look forward to the outcome.” The business and energy secretary, Greg Clark, said: “New nuclear is an essential part of our plan for a secure, clean and affordable energy system that will power the economy throughout this century. This is a welcome decision from EDF, and we look forward to the outcome.”
Last month EDF managers told MPs that the company should postpone the Hinkley Point project until it had solved a series of problems with the reactor design and multibillion-euro lawsuits over delays on similar schemes.Last month EDF managers told MPs that the company should postpone the Hinkley Point project until it had solved a series of problems with the reactor design and multibillion-euro lawsuits over delays on similar schemes.
French unions have raised concerns about the cost of building the power station, but UK unions have strongly backed the project.French unions have raised concerns about the cost of building the power station, but UK unions have strongly backed the project.
The government argues that Hinkley Point C is a crucial part of the UK’s future energy mix as coal and older nuclear plants are shut down. It is expected to provide 7% of the country’s electricity demand when it becomes operational.The government argues that Hinkley Point C is a crucial part of the UK’s future energy mix as coal and older nuclear plants are shut down. It is expected to provide 7% of the country’s electricity demand when it becomes operational.
It is due to be completed by 2025, but many regard that timetable as highly unrealistic given that reactors of the same design being built in Finland and France are running years behind schedule.It is due to be completed by 2025, but many regard that timetable as highly unrealistic given that reactors of the same design being built in Finland and France are running years behind schedule.