Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

MPs ramp up pressure on EDF over Hinkley nuclear plant

Published 26/04/2016, 13:57
© Reuters. A tractor mows a field on the site where EDF Energy's Hinkley Point C nuclear power station will be constructed in Bridgwater, southwest England
EDF
-

LONDON (Reuters) - MPs have ordered EDF (PA:EDF) executives to appear in Parliament for a second time in three months, ramping up pressure on the French utility over its delay in making a decision to build the 18 billion pound Hinkley Point C nuclear plant.

EDF last week delayed making a final decision on the project until after its May 12 shareholder meeting to allow time to consult its works council.

The head of a British parliamentary committee on energy said he wants EDF executives to appear before the group, likely in late May, to explain the delay.

Vincent de Rivaz, chief executive of EDF's British unit EDF Energy, spoke to the same committee on March 23 and told MPs France's economy minister expected an investment decision would be made in early May.

"At that hearing we said that we would call them back in if that timetable slipped again and that's what we are doing now," Angus MacNeil, chair of the committee, said in a statement.

He said he was concerned that the project's cancellation would have huge implications for Britain's energy security and emissions reduction targets.

EDF Energy declined to comment.

© Reuters. A tractor mows a field on the site where EDF Energy's Hinkley Point C nuclear power station will be constructed in Bridgwater, southwest England

Over the past two years, several decision deadlines have come and gone. A source close to the French economy minister told Reuters a new deadline could be two to four months away.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.