Nuclear industry rep says UK credibility on the line in Hinkley Point nuclear deal

Hinkley Point, UK

The credibility of the Britain’s entire energy sector is on the line in negotiations over the Hinkley Point nuclear project, the chairman of the country’s Nuclear Industry Association wrote in the The Telegraph over the weekend. Lord Hutton argued that were the project to fail it would undermine investor confidence in projects throughout the energy sector.

“Time is of the essence,” said Hutton, chairman of the Nuclear Industry Association. “EDF Energy has spent £1 billion ($1.53 billion) already and the project is at present costing the company £1m a day.”

At present, talks are focused on the proposal to establish a guaranteed energy price to offer assurance to EDF that it will recoup its investment. Most of the companies nuclear reactors in the UK are set to cease operations in Britain within the next decade or so.
“If a deal cannot be struck for new nuclear,” Hutton said, “can it be struck for offshore wind or carbon capture and storage?”

Subscribe to Nuclear Power International magazine

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


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 ...