Austria may sue over Hinkley Point C nuclear subsidies

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Austria plans to sue the European Commission over its approval of subsidies for the $24 billion Hinkley Point C nuclear power project in the UK.
 
The country said in October 2014 – a month after the UK government and the European Union approved the incentives – that it would consider suing to reverse the decision, saying that nuclear power did not deserve the breaks. Under the deal,  EDF Energy and project partners will be guaranteed a price of  £92.50 ($151.25), double the current market price of electricity, over a 35-year period.
 
UK consumers could end up paying £17 billion ($27.8 billion) in subsidies for the reactor, higher than the cost of the plant itself. EDF and the UK said the subsidies would be necessary to build the plant, but the deal triggered an investigation by the EC back in December.
 
The plant is expected to break fround in 2015, but EDF Energy must first finalize deals with China General Nuclear Corp. and China National Nuclear Corp.
 
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