Britain’s first new nuclear power plant in decades could be delayed amid reports an EDF board meeting to decide whether to invest in Hinkley Point Power Station has been postponed. The French energy firm’s board was expected to meet on Wednesday to finalise the decision. But French paper Les Echos and environmental group Greenpeace said the decision had now been delayed reportedly due to funding difficulties.
EDF declined to comment on the reports.
In October, EDF agreed a deal under which China General Nuclear Power Corporation (CGN) would pay a third of the cost of the £18bn project in exchange for a 33.5% stake. Hinkley is due to start generating in 2025, and is expected to provide 7% of the UK’s electricity once it is operational. But the project was originally due to open in 2017, and it has come under fire for both its cost and delays to the timetable for building. The government has also been criticised for guaranteeing a price of £92.50 per megawatt hour of electricity – more than twice the current cost – for the electricity Hinkley produces. http://www.bbc.co.uk/news