UK to support nuclear reactors
“Whatever the result of the general election, the UK will deliver,” Vincent de Rivaz, head of EDF Energy Plc, the utility’s UK unit, told a conference in Paris. “The commitment to nuclear is strong on both sides of the channel.”
A final decision on the plan, which has been delayed, is being considered even as similar French and Finnish projects remain mired in timetable and cost overruns.
Cost estimates and the project schedule for Hinkley Point are “well-founded”, Mr de Rivaz said yesterday. Difficulties experienced at the new reactor at Flamanville in Normandy “should not happen again”.
EDF had planned to reach a final decision and bring in new investors by December to take as much as 15% of its £16bn (€22bn) project to develop two EPR nuclear reactors at Hinkley Point in the UK. New partners have not been announced yet and talks with the UK government on the project are in the “final stages” before an investment decision, which will be after the polls, chief executive officer Jean-Bernard Levy said on February 12.
Discussions with the UK government and Chinese partners, as well as potential partners from countries that want to develop nuclear at home, are ongoing, Mr de Rivaz said yesterday. The final decision is expected “as soon as possible” after the general election, he said.
The utility and supplier Areva SA are still struggling to complete construction of the same type of reactor at Flamanville in Normandy. A separate Areva-led project to build an EPR in Finland is also years behind schedule. That project contributed to Areva’s record net loss of €4.8bn last year, the company said on Wednesday.
“There are issues building EPRs in France and Finland but the challenges in Flamanville are not specific to EPR design or operability,” Mr de Rivaz said yesterday. “We are taking steps to minimise project difficulties.”
Bloomberg
CONNECT WITH US TODAY
Be the first to know the latest news and updates
