Proposed Hinkley Point C – An Update

The main (French) Board of EDF has yet to make the key decision as to whether or not to proceed with the construction of the twin nuclear reactors (the European Pressurised Reactors — Hinkley C) since, among other considerations, there is dissension among the Board members. The earliest date for a decision is now September 2016: but that is doubtful faced with other objectors — e.g. UNITED NATIONS: UK. has failed to consult Europe on Hinkley risks’ as it should have done of any accident or event that could affect European countries; not to mention increases in the estimated costs of the plant, and how it is to be funded, since EDF is technically bankrupt. Additionally EDF has yet to enter a 60~day consultation with the Unions who are fearful of their jobs.

‘Moody’s, the American credit agency said that it was downgrading EDF’s rating to ‘negative’ because of incremental risks associated with Hinkley C, and could further downgrade it if the project went ahead. Moody‘s said “The outlook could be returned to stable, provided that EDF decides not to proceed”

from The Times 13th May, 2016

‘The U.K.’s DECC’s chief negotiator, Hugo Robson, has said that if there is a significant delay in building Hinkley C – 8 years — then at that point the UK. can cancel the contract signed in 2013, Le. if the plant is not up and running by 2023 the agreement would be cancelled. EDF says now that the 2017 date for completion does not hold and now the earliest date is 2025.’

from The Times 25“ May, 2016