News June 2016

30 June 2016

Hinkley

THE boss of French energy firm EDF says the Brexit vote will not make a difference to plans for an £18B nuclear power plant in Somerset. This is despite comments from several quarters casting doubt on whether the firm would continue to want to invest if Britain leaves the EU.

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29 June 2016

Hinkley

The French economy minister has heaped pressure on state-backed utility giant EDF to make a timely decision on its Hinkley Point project following the Brexit vote. Emmanuel Macron’s comments were made during a nuclear conference in Paris. He also warned that further delays to the final investment decision (FID) could add more uncertainty to the £18bn nuclear power plant. Experts had told City A.M. that Britain’s vote to leave the European Union last week had plunged the nuclear power plant …

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28 June 2016

Hinkley

The £18 billion project to build a new nuclear power station at Hinkley Point in Somerset is likely to be cancelled because of the Brexit vote, according to an expert advising the government. Paul Dorfman said he believed it was “extremely unlikely” that EDF, the state-backed French energy company, would now proceed with the long-delayed project, which would generate a total of 7 per cent of UK electricity if built. He is an honorary senior research fellow at University College …

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27 June 2016

Hinkley

EDF’s plans to build an £18bn nuclear power plant at Hinkley Point in Somerset will be subject to a fresh wave of uncertainty following Brexit. EDF reiterated its commitment to the project, which has already suffered repeated delays, after Brits voted to leave the EU on Friday. But asked whether Brexit could lead to Hinkley being scrapped, Angus Brendan MacNeil, chair of the energy and climate select committee, said: “Anything could happen … Hinkley is in a very different position …

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26 June 2016

Hinkley

Some are worried about the long-term consequences of turning inward, such as immigration policies and previously announced projects. On the electricity front, French utility EDF and China General Nuclear Power Corp. are partners in a projected and slow-moving $26 billion nuclear power plant at Hinkley Point. French President Francois Hollande told several news outlets he was still in favor of going forward with Hinkley Point construction despite the British vote against the EU. Economic self-interest at least plays some role …

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25 June 2016

Hinkley

French EDF’s main labour union said on Friday that the utility should delay the final investment decision on its 18 billion pound ($24 billion) project to build a nuclear plant in Hinkley Point in southern England after Britons voted to quit the European Union. The project is one of the largest French investment projects in Britain and a final investment decision has been repeatedly delayed since it was first announced in Oct. 2013. “Brexit brings another element of uncertainty which …

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24 June 2016

Hinkley

French state-controlled utility EDF declined to comment on whether or not it would go ahead with its 18 billion pound ($24.11 billion) project to build a nuclear plant in Hinkley Point in southern England after Britons voted on Friday to quit the European Union. The project is one of the largest French investment projects in Britain and a final investment decision has been repeatedly delayed since it was first announced in Oct. 2013. Before the Brexit vote, French Economy Minister …

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23 June 2016

Hinkley

EDF’s workers’ committee has turned to the French courts in an attempt to further delay the group’s £18bn project to build Britain’s Hinkley Point nuclear power plant. Last month, the French utility company had been due to give final approval for going ahead with Hinkley Point. But, a month earlier, this process was put on hold when the workers committee demanded to be consulted on the decision. After its intervention in April, the committee – which is an official body …

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22 June 2016

Hinkley

In 2006, the British government launched a policy to build nuclear power reactors based on a claim that the power produced would be competitive with fossil fuel and would require no public subsidy. A decade later, it is not clear how many, if any, orders will be placed and the claims on costs and subsidies have proved false. Despite this failure to deliver, the policy is still being pursued with undiminished determination. The finance model that is now proposed is …

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21 June 2016

Hinkley

The outcome of Thursday’s referendum on Britain’s membership of the EU will not affect the final investment decision on Hinkley Point C, according to EDF Energy chief executive Vincent de Rivaz. “The absolute need for [Hinkley] will remain regardless of the outcome of the vote, and politicians on both sides of the debate recognise this,” said De Rivaz in a letter to employees.

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