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Risky Hinkley nuclear project: extra costs to be paid by international partners, not British tax-payers – says UK Finance Minister

Reuters 12th Sept 2017, Taxpayers will not be on the hook for any additional costs incurred in the building of the new $24 billion Hinkley Point nuclear plant, British
finance minister Philip Hammond said. A British parliamentary watchdog said
in June that the deal to construct the nuclear power station, which is
being built by French state-owned utility EDF, was risky.

It said the project could lead to requests for more cash and electricity payment
top-ups worth 30 billion pounds ($40 billion). EDF said in July that costs
at Hinkley Point were likely to be higher than it originally thought.
“Costs are not rising for the bill payer or the taxpayer. They may very
well be rising for our development partners, but that’s their problem,”
Hammond said on Tuesday.   http://uk.reuters.com/article/britain-power-hinkley/taxpayer-insulated-from-rising-hinkley-point-costs-says-hammond-idUKL5N1LT4XL?rpc=401&

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September 14, 2017 - Posted by | business and costs, politics, UK

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