Sources claim a deal is close at hand in EDF nuclear plans


The price cap is set to rise by £117 – switch supplier to cut your bills by up to £447* & the chance to win a Fitbit (T&Cs apply).

in partnership with Banner uswitch

Looking to switch your business energy supplier? Click here

* Between 1 Jul 2018 and 31 Dec 2018, at least 10% of people who switched energy supplier for both gas & electricity with uSwitch saved £447 or more.

The will it won't it saga of EDF's proposed nuclear power plant site looks to have taken another new twist according to reports.

This is Money has reported sources close to the matter have informed them 'the mood music has changed' on negotiations, with a deal now expected in the next couple of weeks.

In a frantic few months which has seen EDF's original partner, British Gas owner Centrica pull out of the deal, EDF Energy chief Vincent de Rivaz threaten to leave the UK if talks collapsed, and a general uncertainty of whether the talks between the Government and energy firm would finally reach a peaceful resolution, it has now emerged a deal could happen in the next two weeks.

The main sticking point between the two parties going forward was how much the Government would pay EDF in return for the power generated. With a huge £14bn worth of money stencilled in for the development at Hinkley Point, Somserset, EDF is after reassurances from the Government.

It has now emerged EDF is likely to receive a 'strike price' of between £93 and £96 - as it is believed the firm had been holding out for from the start.

The Government had hoped to agree upon a lower rate, but it now appears it has finally come to an agreement with EDF over the higher figure.

Under such an agreement, if the amount charged for the energy went over that specified, EDF would pay money back to the Government, with the reverse happening in the opposite case.

EDF Energy is part of the Government's Green Deal. Since the end of January, customers have been able to sign up the scheme in order to receive the equivalent of a loan on items to improve the energy efficiency of their home. This includes the fitting of new boilers, solar panels and wall insulation among other things.

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.

Cookies help us deliver our services. By using our services, you agree to our use of cookies. Learn more