decision on Hinkley Point C project 'to be taken in May'
economy minister Emmanuel Macron has this week said EDF Energy
will make a final investment decision on the Hinkley Point C nuclear
project near Burnham-On-Sea in early May.
decision on the £18bn nuclear plant has been delayed several
times by EDF amid concerns about how the project will be funded.
before the French parliament's Economic Affairs Committee, Mr
Macron also said it was unlikely EDF would choose not to take
part in the project.
principal nuclear project in the developed world is Hinkley Point,"
Mr Macron said. "Can we legitimately choose not to take part
in the largest nuclear project in the developed world? For my
part, I don't think so."
referring to the movement of the decision date, he said to the
committee: "Why the start of May?
must be taken before the general assembly of EDF, and it's important
that we give our British partners full visibility of this investment,
which is absolutely critical for them... also before the deadlines
which are important for them."
Macron continued: "So we need to make the most of the coming
weeks but there is no urgency to decide by the end of the month,
because we need to work on a number of measures which are over
and above Hinkley Point."
was also keen to emphasise that Hinkley Point was not the cause
of the short term financial problems of EDF.
UK government has been criticised for guaranteeing a price of
£92.50 per megawatt hour of electricity - more than twice
the current cost - for the electricity Hinkley produces for 35
Mr Macron said that the guaranteed price from the UK government
"allows us to guarantee the profitability of the project
at around 9% a year for 60 years".
Macron added: "So beyond the short term financial difficulties
it is a good industrial and financial investment for the long
term for EDF."
this month EDF said it was confident the plant would go ahead
despite uncertainties over its funding.
in a letter to staff, the company's chief executive Jean-Bernard
Levy said the project needed to secure more funding from the French
said the financial context was "challenging" and he
was negotiating with the French state. The UK government has said
it is "committed" to Hinkley.