says investment decision on Hinkley Point has been delayed
group EDF has delayed an investment decision on its £16bn
project to build two nuclear energy reactors in Hinkley Point,
this week that the decision would be made in March, the firm's
chief executive said on Thursday (February 12th) that the negotiations
could take "a considerable amount of time".
executive Jean-Bernard Levy said talks between EDF's partners,
French nuclear group Areva and the UK government were continuing.
are in the final phase of negotiations, but that phase can take
a considerable amount of time, depending on the number of problems
left to resolve. There is no other project on the agenda,"
to build two reactors at Hinkley Point are also currently facing
a potential legal challenge from Austria, which opposes nuclear
energy and has questioned the subsidy deal between the UK and
challenge threatens to stall the investment plans.
Times reported last weekend that the nuclear schemes
Chinese backers have demanded that the French government protect
them if the project goes bust. The
two Chinese companies involved are also reported to be concerned
about Hinkley Points European Pressurised water Reactor
newspaper also reported that EDF Energy is seeking assurances
from the Government that if Austria wins its legal action against
the proposed subsidies and the project has to be abandoned halfway
through, the company will receive compensation for the money invested
up to that point.