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EDF Energy chief executive Vincent de Rivaz has said “categorically” that the Hinkley Point C new nuclear project will go ahead, but has refused to confirm when a final investment decision will be made.
Speaking before a meeting of the Energy and Climate Change Committee, de Rivaz said the expertise and supply chain needed was already in place and that he was confident financing would also be secured.
“I will start by saying clearly and categorically that Hinkley Point C will go ahead – and that’s good news for the UK … We are confident on this project. We are confident in the EPR [European Pressurized Reactor] technology,” he said.
He reiterated comments made the day before by the French economy and finance minister Emmanuel Macron, and said it would be “very reasonable to assume” a decision would be made by mid-May, but he could not confirm a precise date.
“I think no one should doubt our commitment to a project in which we have invested £2.4 billion,” he said.
De Rivaz said the price tag for the project would be £18 billion, adding that the European Commission estimate of £24.5 billion was “no longer relevant” as it was based on “certain assumptions about how the project would be financed” which did not apply to current situation.
The EDF chief assured the committee Hinkley had the full backing of the French government, saying it was “difficult to imagine how their support could be any stronger”.
He said Macron had repeatedly confirmed his backing, and drew attention to the joint declaration of support made by French president Francois Hollande and British prime minister David Cameron earlier in March.
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