Daily News Roundup

30 July 2016

Hinkley

A think tank that includes senior Conservative figures among its members has called for the government to call time on the Hinkley C nuclear power plant. Bright Blue, whose advisory board includes Francis Maude, Nicky Morgan and former DECC minister Greg Barker, has said the government needs a new “plan A”. The group stresses that its position is not necessarily endorsed by all members of the organisation, which includes more than 100 parliamentarians. “The Government should abandon Hinkley C – …

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29 July 2016

Hinkley

Chaos over £18bn Hinkley nuclear plant. The government stunned the energy industry last night by announcing a further review of the Hinkley Point nuclear power station hours after EDF, the French state electricity giant, approved the project. Executives at EDF had been expecting the government to sign a subsidy deal connected to the £18 billion plant in Somerset today. Greg Clark, the business and energy secretary, said that he needed until September to study the subsidy contract. Mr Clark said: …

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28 July 2016

Hinkley

Michael Liebreich: Assuming its unions have not succeeded in stopping it, the board of EDF is today expected to wave through a decision on Hinkley C, the first new nuclear power station in the UK for 20 years and, at £18bn, the world’s most expensive power station. The obvious question is why this train-wreck of a project was not killed long ago. To answer this, you have to delve into the politics of the Conservative Party. In 2010, Tory support …

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27 July 2016

Stop Hinkley Campaign says a Final Investment Decision for Hinkley Point C would be little more than spin

EDF seems to be hoping that by acting swiftly after Greg Clark’s appointment as Secretary of State, it can minimise the risk that the highly favourable terms struck in 2013 to help to bankroll the station are watered down. Above all, EDF’s most cherished sweetener is a guaranteed price of an index-linked £92.50 per megawatt hour in 2012 prices – now worth around £100/MWh.

Stop Hinkley Spokesperson Allan Jeffery said:

If the Company does indeed make a positive Final Investment Decision on

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Stop Hinkley Campaign Letter to Greg Clark

Dear Mr Clark,

Congratulations on your appointment as Secretary of State for Business, Energy and Industrial Strategy. We understand that you will now take charge of energy policy. We are writing to you to ask you to make the most of this opportunity to stamp your own mark on Government energy policy by ditching proposals for a new nuclear power station at Hinkley Point C (HPC) in Somerset.

Over the last few months HPC has been described as a white elephant; a …

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27 July 2016

Hinkley

John Sauven: George Osborne’s reputation as a master political tactician may have gone the way of Leave’s £350m a week for the NHS, but the spectre of his misguided energy policy could haunt Britain for decades, and at Hinkley in north Somerset, for millennia. Theresa May’s government urgently need to seize the opportunity to minimise the damage, an opportunity which only lasts while her government can portray them as the last regime’s errors, and disown them. This week we learned …

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26 July 2016

Hinkley

The final investment decision on Hinkley Point C (HPC) could still “go either way”, analyst at investment firm Whitman Howard has told Utility Week.

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25 July 2016

Hinkley

On Thursday the board of EDF will meet in Paris to give a final green-light for its £18 billion project to build a nuclear power station at Hinkley Point in Somerset. Billed as a critical piece of kit to meet Britain’s future electricity needs, while also cutting carbon emissions, Hinkley Point could churn out 7 per cent of British electricity for 60 years. The French government, which owns 85 per cent of EDF, hopes that by acting swiftly, only two …

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24 July 2016

New Nuclear

Russian, Chinese and South Korean nuclear companies should be offered subsidy contracts to build reactors in the UK if they are cheaper than other projects already under development, a prominent nuclear lobbyist has said. Tim Yeo, the former chairman of the House of Commons energy select committee, said EDF’s proposed £18bn plant at Hinkley Point, which is expected to get the go-ahead this week, should be allowed to proceed, but he urged the Government to rethink its approach to …

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23 July 2016

Hinkley

French finance authorities have raided the offices of EDF just days before the state-backed energy giant is expected to give the go-ahead to its controversial Hinkley Point new nuclear project. The long-awaited final decision on the Hinkley project is scheduled to take place at a board meeting next Thursday, even as authorities in both the UK and France escalate concerns over the costs of the £18bn project. French investigators from the Financial Markets Authority (AMF) swooped on EDF’s Paris headquarters …

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