This article is from the source 'nytimes' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.nytimes.com/2016/07/29/business/energy-environment/edf-hinkley-point-nuclear-france-britain.html

The article has changed 2 times. There is an RSS feed of changes available.

Version 0 Version 1
French Utility to Build Britain’s First Nuclear Plant in Years French Utility to Build Britain’s First Nuclear Plant in Years
(about 13 hours later)
LONDON — The French utility EDF said on Thursday that its board had approved a plan to build the first nuclear power plant in Britain in a generation.LONDON — The French utility EDF said on Thursday that its board had approved a plan to build the first nuclear power plant in Britain in a generation.
The project for the state-controlled utility has long been contentious. Critics have slammed it as an expensive and risky route to securing emission-free electricity.The project for the state-controlled utility has long been contentious. Critics have slammed it as an expensive and risky route to securing emission-free electricity.
But the project — at a cost of 18 billion pounds, or about $23.6 billion — could well be seen as a vote of confidence in Britain’s future, barely a month after the country voted to leave the European Union. It would provide a welcome contrast to poor economic news in the form of plunging consumer confidence, a weaker currency and fears of recession.But the project — at a cost of 18 billion pounds, or about $23.6 billion — could well be seen as a vote of confidence in Britain’s future, barely a month after the country voted to leave the European Union. It would provide a welcome contrast to poor economic news in the form of plunging consumer confidence, a weaker currency and fears of recession.
The green light may also kindle hopes that the project, known as Hinkley Point C, and other large infrastructure plans on the drawing board, like a £53 billion high-speed rail line from London to major cities farther north, will help offset some of the negative effects of the “Brexit” decision. The new British government of Prime Minister Theresa May said in a statement Thursday evening, however, that it would “consider carefully” the project and make a decision in early autumn, casting doubt on the power station’s prospects.
The green light may nevertheless kindle hopes that the project, known as Hinkley Point C, and other large infrastructure plans on the drawing board, like a £53 billion high-speed rail line from London to major cities farther north, will help offset some of the negative effects of the “Brexit” decision.
Added to that is the actual electricity it will generate — enough to power six million homes, or about 7 percent of Britain’s energy needs. That would help bolster the global nuclear industry, which has found little appetite for building new power stations in the West since the 2011 Fukushima disaster in Japan.Added to that is the actual electricity it will generate — enough to power six million homes, or about 7 percent of Britain’s energy needs. That would help bolster the global nuclear industry, which has found little appetite for building new power stations in the West since the 2011 Fukushima disaster in Japan.
“It is encouraging that the investment isn’t being scrapped because of the result” of last month’s referendum, Paul Hollingsworth of Capital Economics, a London research firm, wrote in an email.“It is encouraging that the investment isn’t being scrapped because of the result” of last month’s referendum, Paul Hollingsworth of Capital Economics, a London research firm, wrote in an email.
The power station is to be built on a headland overlooking the Bristol Channel in southwest England and will include two enormous French-designed reactors. It will be constructed and operated by EDF Energy, which owns and operates most of Britain’s nuclear power stations, including a 50-year-old plant known as Hinkley Point B in the same area.The power station is to be built on a headland overlooking the Bristol Channel in southwest England and will include two enormous French-designed reactors. It will be constructed and operated by EDF Energy, which owns and operates most of Britain’s nuclear power stations, including a 50-year-old plant known as Hinkley Point B in the same area.
The approval of Hinkley Point C provides a welcome tonic for the ailing nuclear power industry in France, Europe’s leader in the business. The industry’s reputation has been dented by long delays and huge cost overruns on stations of the same design under construction at Flamanville in France, as well as in Finland.The approval of Hinkley Point C provides a welcome tonic for the ailing nuclear power industry in France, Europe’s leader in the business. The industry’s reputation has been dented by long delays and huge cost overruns on stations of the same design under construction at Flamanville in France, as well as in Finland.
And despite fears of cost overruns, the British government has argued that, whatever the cost, Hinkley Point C is needed to keep the lights on and to help replace the country’s aging power plants. Nuclear generation also helps meet its clean-energy goals.And despite fears of cost overruns, the British government has argued that, whatever the cost, Hinkley Point C is needed to keep the lights on and to help replace the country’s aging power plants. Nuclear generation also helps meet its clean-energy goals.
To help fund the project, EDF and the British government have brought in China General Nuclear Power Corporation, a state company, as a minority investor. The company’s role may eventually provide the Chinese nuclear industry, which is in the midst of a domestic building boom, an opportunity to build a plant of its own design in Britain.To help fund the project, EDF and the British government have brought in China General Nuclear Power Corporation, a state company, as a minority investor. The company’s role may eventually provide the Chinese nuclear industry, which is in the midst of a domestic building boom, an opportunity to build a plant of its own design in Britain.
Critics, however, question whether giant nuclear plants are the right solution for clean power in the 21st century.Critics, however, question whether giant nuclear plants are the right solution for clean power in the 21st century.
Hinkley Point C “is said to be the beginning of a new civil nuclear phase in the U.K., but in fact it could be a major setback,” David Howell, an energy minister under former Prime Minister Margaret Thatcher, wrote in an email.Hinkley Point C “is said to be the beginning of a new civil nuclear phase in the U.K., but in fact it could be a major setback,” David Howell, an energy minister under former Prime Minister Margaret Thatcher, wrote in an email.
And while nuclear plants may produce clean energy, disposing of nuclear waste and the prospects of catastrophic accidents or terrorist attacks, pose problems.And while nuclear plants may produce clean energy, disposing of nuclear waste and the prospects of catastrophic accidents or terrorist attacks, pose problems.
“No one worries about terrorists crashing planes into wind farms,” said Doug Parr, chief scientist at Greenpeace U.K.“No one worries about terrorists crashing planes into wind farms,” said Doug Parr, chief scientist at Greenpeace U.K.
The long-awaited decision continued to be controversial up to the board meeting as one member, Gérard Magnin, resigned on Thursday, apparently over concerns about moving ahead with the project.The long-awaited decision continued to be controversial up to the board meeting as one member, Gérard Magnin, resigned on Thursday, apparently over concerns about moving ahead with the project.