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Nationalisation of French energy giant EDF means it is unlikely to spearhead future nuclear power projects in UK, according to top industry insider

By FRANCESCA WASHTELL, FINANCIAL MAIL ON SUNDAY,

The nationalisation of French energy giant EDF means it is unlikely to spearhead future nuclear power projects in the UK, according to a top industry insider.

The Hinkley Point C developer will instead focus investment on reactors in France, the source said. 

French Prime Minister Elisabeth Borne announced last week that the state would buy the 16 per cent of shares in EDF it does not already own. 

EDF, one of Britain’s big household energy suppliers, will continue work on Hinkley in Somerset, as well as Sizewell C in Suffolk, which is still being approved by the UK Government. 

But the source said EDF would now shift its focus to France as it battles the energy crisis sweeping Europe, adding: ‘The odds of it putting money into another UK plant are incredibly small. 

‘This has been a long time coming because being fully nationalised means it can put more money into French projects without having to worry about state aid.’ ………………………………   https://www.thisismoney.co.uk/money/markets/article-10998301/Nationalised-EDF-wont-build-new-nuclear-sites-UK.html

July 11, 2022 - Posted by Christina Macpherson | business and costs, politics international, UK