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EDF seeks guarantees from UK government to keep its big subsidies

 EDF is seeking to amend the controversial subsidy contract for its £26
billion Hinkley Point C nuclear plant so that it will not be penalised even
if the plant does not start to generate power until 2030.

Hinkley was
supposed to start up in 2025 but EDF has pushed this back to mid-2027,
primarily blaming Covid disruption, and warned of the risk of a further
15-month delay. Stuart Crooks, managing director of Hinkley Point C, said
at least some of this delay was now “likely” to materialise as the
project battles issues including labour shortages.

He revealed that EDF was
seeking extra leeway in the already contentious subsidy contract to protect
its revenues even if the plant suffers additional delays and does not start
up this decade. Further delays would also raise the prospect of additional
increases in costs, which have risen from £18 billion when it got the
go-ahead in 2016 to as much as £26 billion at 2015 prices.

 Times 22nd July 2022

July 22, 2022 - Posted by | politics, UK

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