Efforts to build the first nuclear power plant in the UK in a generation have hit another snag as European commission officials launch an investigation into the subsidy scheme to finance the project, the Guardian reports.
The investigation, if it becomes full-scale, would last 18 months to two or more years, a delay that would raise serious questions about whether or not the project is viable at all.
The proposed nuclear reactor would be built at Hinkley Point by the French firm EDF using Arevaâs Generation III European Pressurized Reactor design. The competition directorate of the European commission has initiated an investigation into planned taxpayer subsidies to finance construction of the reactor. EDF and UK ministers are reportedly discussing a minimum price for nuclear energy of just under 100 pounds per MWh, or roughly double the current market rate, according to the Guardian. The total cost to customers over the 30-40 year life of the price floor could be a billion pounds or more, the paper says.
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