EDF nuclear power station decision delayed until next year

Between 1 July 2019 and 31 December 2019, at least 10% of people who switched energy supplier for both gas & electricity with Uswitch saved £479 or more.

The energy firm EDF has confirmed that plans for its UK nuclear power station have now been delayed.

A combination of cuts in the providers native France and the lack of agreement over pricing with the UK Government have been cited as reasons for the delay.

EDF  - part of the Warm Home Discount Scheme - has had plans in place for most of the year for the construction of two nuclear reactors at the site in Hinkley Point, Somerset - a project set to cost £14bn.

However, the company has still not confirmed whether or not it will go ahead with the project, and has recently revised the decision to that of being taken at "the earliest date possible".

EDF chief financial officer, Thomas Piquemal, said in the new year the firm would look prioritise French investment, which could delay its nuclear projects in Britain.

He said: "It's still too early to decide on the British plans, as all the conditions for the investment aren't met."

A  further factor in the delay was the fact that the firm had been unable to agree upon a price for the energy it will generate with the government.

EDF chief executive, Vincent de Rivaz, said: “Both the planning recommendation and the Energy Bill's second reading are critical elements of the project, but our final decision still depends on our ability to build a business case which gives clarity for investors as well as consumers.

“We are working with the Government to agree a Contract for Difference which will provide a price for the electricity produced which will be transparent, durable, fair and balanced for both parties. Rapid progress on this is now the key to unlock investment.”

Latest gas and electricity news brought to you by UK Power - the energy price comparison site.

Click here to run an energy price comparison, and see if you could be paying less for your gas and electricity.