Early agreements made to build new nuclear power station in U.K.

A consortium led by the French EDF Group struck a new commercial agreement with the U.K. government on terms for building a proposed investment contract for the Hinkley Point C nuclear power station at Somerset in southwest England.

Hinkley Point C would be the first new nuclear energy facility in the U.K. since Sizewell B powered up in 1995.

Most of Britain's nuclear fleet is set for retirement between now and 2020, and investors in the Hinkley project are hoping they can be the ones to upgrade those aging power plants with new nuclear reactors and accompanying facilities.

Britain plans to submit its application for state aid clearance to the European Commission for a new nuclear power plant later this week, Energy Secretary Ed Davey said October 21.

Last week, the groups agreed on a “strike price,” or the guaranteed price at which EDF would sell the power from the reactor.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs