nuclear-news

What if EDF says no to Hinkley Point? What if the French power generator, under pressure from its unions and potential lenders, decides it can’t finance the £18bn project, even with the Chinese chipping in?

After all, the disgruntled French workers make a reasonable point. EDF’s last big foreign adventure, in Finland, is nine years behind schedule and massively over-budget, so why risk another expedition? EDF’s share price, remember, is down 85% since 2004: the company is in a weak position to resist its local critics.

The short answer is that the UK’s nuclear strategy would be in tatters if EDF backs out. If EDF can’t get financing for Hinkley, then Sizewell C, the company’s intended follow-on project in Suffolk, would also bite the dust. The same goes for the next plant at Bradwell in Essex, where Chinese constructors are supposed to be taking the lead, but are relying on Hinkley’s and Sizewell’s infrastructure and momentum.

And, if the UK’s nuclear strategy becomes a non-runner, then the government’s entire energy policy is dead. By the mid-2030s, Hinkleyand other new nuclear plants are supposed to have replaced the current clapped-out fleet and added capacity on top………http://www.theguardian.com/business/nils-pratley-on-finance/2016/jan/27/edf-hinkley-point-nuclear-power-strategy-uk-george-osborne-chinese-sizewell-bradwell