nuclear-news

EDF losses-£30 billion, China bail out for UK planned Reactors

http://www.guardian.co.uk/environment/2012/sep/02/edf-china-nuclear-reactor

[…]

EDF has been holding talks with China about sharing the soaring cost of building £10bn worth of new reactors at Hinkley Point, Somerset.

The move underlines growing pressure on the French company’s internal finances and has reignited a fractious debate about Communist state-run businesses playing a critical role in sensitive western energy infrastructure.

[…]

EDF faces growing investment demands in France and the UK that have sent debt levels rocketing to €39.7bn (£30bn).

[…]

The energy company – majority owned by the French state – is also facing mounting cost overruns and delays on its planned new reactor scheme at Flamanville in northern France.

A final green light for Hinkley Point C depends on receiving an acceptable “strike price”, agreed with the government, that would guarantee future returns.

EDF insists this strike price – seen by critics as unfair subsidy – will be lower than the £140 per megawatt hour that is roughly the current cost of producing offshore wind power.

[…]

September 5, 2012 - Posted by arclight2011 | Uncategorized