The government said today that Hinkley Point C will “will inaugurate a new era of United Kingdom nuclear power”, hinting that other plants such as Sizewell C and Bradwell could move ahead more quickly.
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This stipulates EDF must remain controlling partner in the £18bn project during the construction phase – and the Government will be able to intervene in the sale of EDF’s stake once the plant is built.
This follows concerns over Chinese involvement in the project that is understood to have prompted Theresa May to put the brakes on the deal at the beginning of the summer so she could scrutinise the terms.
May’s review of the Hinkley Point project sparked a backlash from China, which wants to build another nuclear power plant some 60 miles from London, using its own reactor technology.
The Chinese firm helping to build the new nuclear power station at Hinkley Point said it was now “able to move forward and deliver” nuclear capacity at other United Kingdom sites after the Government go-ahead for the £18 billion project.
Britain said Thursday that the Hinkley deal would include new measures to enhance security.
Six weeks ago, following the formation of Theresa May’s new government, a surprise review of the project was announced, upsetting both EDF and Beijing.
The plan for Bradwell is to submit a design for United Kingdom regulatory approval soon in a process called generic design approval, which could take four years.
Jean-Bernard Levy, chief executive of the French state-owned power company EDF, said the move “relaunches nuclear power in Europe”.
Announcing the approval of the project in a statement, the United Kingdom government said that in future, the government would take a share in all new nuclear projects to “ensure that significant stakes can not be sold without the Government’s knowledge or consent”. This will ensure that significant stakes can not be sold without the Government’s knowledge or consent.
The project for a new power station at Bradwell though could be in greater doubt as this was due to be the flagship for Chinese investment and design.
Justine Bowden, national secretary for energy at energy and construction workers’ union GMB, said the union was “delighted that the first of the badly needed fleet of new nuclear power stations will finally begin construction”.
In response to security concerns over Chinese involvement in Britain’s nuclear industry, the government also said it will in the future take a special share in all foreign investments in “critical” United Kingdom infrastructure, including future nuclear plants.
An official statement said the British government had made a decision to approve the country’s first nuclear power plant in two decades following a new agreement with EDF, but added that new measures would be taken to enhance security.
France’s influential nuclear industry has been struggling in recent years as the industry has leaned toward renewables and away from costly nuclear plants, notably in the wake of the 2011 Fukushima accident. Currently, the United Kingdom has eight power stations which generate around 20% of power in the UK. The government says that 26,000 jobs and apprenticeships will be created as part of the Hinkley Point C project.
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“Instead it seems that Hinkley became too big to fail”.
