EDF reiterates its support for Hinkley Point nuclear project despite Brexit

05/07/2016 10:37 Electricity Market

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French power utility EDF on Monday reiterated its support for the development of delayed new nuclear power station at Hinkley Point in southern England, declaring that British referendum to quit the European Union will not affect its plans.

However, a long-awaited final investment decision is still to be made. EDF has been consulting with unions in France, some of which have voiced concern about the financial implications of the £18 billion project on the company. The unions fear the investment is too risky, and could bankrupt the company. However, the UK trade unions as GMB, Unite, Ucatt, and Prospect are 100% supporting Hinkley Point C and said that it is vital to make a final investment decision Hinkley Point, which was due to be completed in 2017, is currently expected to be finished by 2025.

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