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China hopes British nuclear project can be smoothly implemented
French economy minister Emmanuel Macron told French weekly Le Journal du Dimanche on Sunday that he did not believe Britain would reverse its position. “And it’s nearly certainly ruffled the feathers of the Chinese”.
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Ministers in the coalition agreed three years ago that EDF would be paid £92.50 per megawatt hour (MWh) of electricity generated by the reactor for 35 years – or £89.50 per MWh if a new nuclear plant at Sizewell was also built.
It follows reports suggesting the UK PM has national security concerns about China’s role in the project.
Labour leader Jeremy Corbyn described the price levels involved as “disturbing” as he backed a review.
China General Nuclear said on Saturday it respected the decision of the new British government to take the time needed to familiarize itself with the program.
In conducting the review, May will have to take into account the risk of enraging the French government which has bet the ranch on the Hinkley Point project most recently increasing the capitalization of EDF by (euro) 4 billion.
A Financial Times columnist has reported that Whitehall officials are saying it feels like having a new government rather than just a change of prime minister.
Even though May sacked Osborne when she took office, her decision was sudden and unexpected. The boss of EDF, Vincent de Rivaz, has tried to calm the fears of workers by insisting he understands why May wanted more time to consider the project, while insisting the deal was still “strong”.
The chief executive said his message was one of confidence and promised the project would deliver high-quality jobs across the country when it was finally built.
But we do have good reason to be suspicious of our own politicians’ professed ability to strike a good deal on our behalf.
Professor Andy Blowers, chairman of the Bradwell Against New Nuclear Group (BANNG), said a decision by the business, energy and industrial strategy secretary Greg Clark to further review the project could be a blessing or a curse for Bradwell. But Britain still valued its ties with China, she said. “Remain the professionals you are, committed to the company”.
“My message today is one of continuity and confidence. This must be focused on bringing forward sufficient renewables, electricity storage, and energy efficiency to more than close any gap left in the late 2020s by Hinkley not proceeding”. “Our job now is to maintain the courage, patience and dedication that have served us so well”.
The surprise announcement by the United Kingdom government on July 28 to delay a decision on going ahead with a $26 billion French-built nuclear power station may have a long-term impact that goes far beyond infrastructure financing and the country’s energy supply.
Downing Street would not be drawn on Sir Vince’s claims.
It’s a amusing old world when the Chinese Communist Party, notorious for its hyper-secretive style of decision making from deep in its Zhongnanhai compound in Beijing, complains about inscrutable and arbitrary shifts in your own government’s policy.
A decision is now due by the autumn, meaning it could come in September when the government is also due to give the go-ahead to a plan to expand either Heathrow or Gatwick airport, another major infrastructure project that has been delayed. “But Osborne rejected it without explanation”, Davey said.
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“I, and others, thought they were a good thing but I think she was anxious about them”, he said.