Hinkley guarantee tops £2 billion as Rudd welcomes China input
The Treasury has announced it will provide a £2 billion guarantee for a new nuclear plant at Hinkley Point in Somerset.
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Some visibility emerges on EDF’s future structure
EDF and nuclear reactor supplier Areva have begun to agree terms on a restructuring intended to place the French nuclear energy sector on a firmer footing.
Areva works on rescue plan
Areva, the French company due to supply EDF Energy’s new reactor at Hinkley Point, has begun talks with labour organisations over thousands of job losses and other cutbacks to try to reduce costs by €1 billion annually.
EDF downgraded by Moody’s
The risks associated with the Hinkley Point C project, EDF’s close relationship with nuclear supplier Areva, and a planned tariff restructuring in France, have hit EDF’s credit rating, according to rating agency Moody’s.
Slow progress for Hinkley Point
EDF and the government have “the shared objective of finalising documents in the coming weeks” on the Hinkley Point C nuclear plant project and “this will allow a final investment decision to be possible in the next few months,” EDF said when it