Nuclear: EDF launches negotiations for two new EPRs in the United Kingdom. According to our information, the French group is discussing with the British government to find a new way of financing to build reactors in Sizewell. The possibility of sharing the cost of construction with British consumers on their electricity bills is thus under consideration. It would not necessarily be a direct payment, but rather a kind of bond that remains to be defined. For the time being, the British Ministry of Industry is simply saying that “new nuclear power plants have an important role to play in the future of our low-carbon electricity production”. To understand the current discussions, we have to go back to Hinkley Point. The two EPRs, whose construction in the West of England began at the end of 2016, must cost 19.6 billion pounds (22.2 billion euros), and that of the first must start in 2025. They are criticized from all sides. First on the side of EDF, which finances on its own funds two-thirds (the Chinese CGN brings the rest) and sees the English project plummet its balance sheet. Its chief financial officer resigned to oppose it in March 2016.
Le Monde 5th May 2018 read more »