EDF Hinkley Point decision expected in May

EDF Hinkley Point decision expected in May

 French economy minister Emmanuel Macron says EDF Energy (EP:EDF.PA) will make a decision on the final investment on the Hinkley point nuclear reactor in May.

The decision on the £18 billion nuclear power plant, located in the near Somerset, in the UK, had been expected on 30 March.

However, EDF – which is 85 per cent French state owned – has not yet outlined how it will fund the project.

“The principal nuclear project in the developed world in Hinkley Point,” Macron told the French Economic Affairs Committee.

“Can we legitimately choose not to take part in the largest nuclear project in the developed world? For my part, I don’t think so.”

Macron said the decision would come in May as it falls before EDF’s general assembly: “It’s important that we give our British partners full visibility of this investment, which is absolutely critical for them… also before the deadlines which are important for them.”

He continued: “We need to make the most of the coming weeks but there is no urgency to decide by the end of the month, because we need to work on a number of measures which are over and above Hinkley Point.”

@RGNonline