The hugely debated Hinkley Point C new nuclear plant looks set to get the green light as the UK government have allegedly agreed a deal with EDF. It’s expected an announcement will be put out after parliament has returned from its summer recess.
It’s rumoured that the deal is agreed and will be signed within weeks, and that contracts will be in place by the autumn.
Hinkley Point C will be the first in a new generation of UK nuclear power stations, set to provide a clean, secure and affordable source of electricity for around five million homes.
While this development has come under lots of negativity from environmentalists, protesters and local councils, the government is still pushing ahead and singing it praises.
The new station will provide around 900 jobs at the new power stations for more than 60 years and 25,000 employment opportunities throughout the build for nearly a decade.
The £25 billion project, which will receive significant backing from Chinese state-owned companies, will be formally signed by David Cameron in October during a state visit from China’s president Xi Jinping, reports state.
It’s not all plain sailing just yet though as the deal could still yet be delayed by the European Commission, after the Austrian government raised a complaint over state subsidies.
RBC Capital said: “Whilst it does not prevent EDF moving forward, it is clearly not helpful, and may yet further delay the final investment decision. Our concerns that a 2023 start date will not be met are heightened.”
Let’s hope the argument doesn’t go nuclear…