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France committed to investing in Hinkley nuclear plant, even if it bankrupts EDF

Hinkley-nuclear-power-plantflag-franceFrench ‘committed’ to investing in Hinkley C nuclear plant  Plymouth Herald  April 17, 2016 By Kate Langston The French government is “completely committed” to building the Westcountry’s new nuclear power plant at Hinkley, the country’s ministers have confirmed.

In an interview with the BBC, the French economy minister Emmanuel Macron stressed the £18 billion project is “very important” to the French state, which owns 85% of energy firm EDF.He added that backers still need to finalise some “technical and industrial” aspects of the Hinkley C deal, but should be in a position to sign in a “week or more”.

The assurances from Mr Macron come less than a week after he sparked fresh fears for the Somerset-based development by announcing he had “not yet made a decision” about the investment.

They also follow the publication of a letter from the main union representing EDF workers stating the firm is “on the edge of bankruptcy”, and should not be risking billions of pounds in the UK……..

The original date for the generator to come online has been pushed back from 20203 to 2025, and the estimated cost has soared from £16 billion to between £18 and £24.5 billion…….

Mr Macron told journalists that Hinkley is “important for [France’s] commitment to nuclear energy”. “We back Hinkley Point project, it’s very important for France, it’s very important for the nuclear sector and EDF,” he said.

“Now we have to finalise the work, and especially the technical and industrial work, very closely with EDF, with the British government, to be in a situation to sign in the coming week or more.”

The EDF board was due to meet to make a final decision on its investment in Hinkley in January, but this was postponed and is now expected to take place in May.

But John Sauven, director of environmental pressure group Greenpeace which is opposed to the new plant, has accused Mr Macron of saying one thing to a UK audience “and another to the French”.

“He has made it abundantly clear in French that no decision has been made,” he told the BBC. “The reasons are clear: the costs are rising, the problems are mounting, and the opposition in France is growing.
“The alternatives are looking increasingly attractive no matter which language you speak.”……….

April 18, 2016 - Posted by | business and costs, France, politics international, UK

1 Comment »

  1. Nuclear power stations are so “safe” that you cannot get insurance cover
    For them….Allan Begg

    Comment by Allan Begg | April 19, 2016 | Reply

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