Hinkley Point C nuclear power construction project is “shovel ready” but construction will not begin until further progress is made on the Energy Bill, EdF Energy chief executive Vincent de Rivaz told MPs today.
Rivaz told the Commons energy and climate change committee that the firm had not yet made its final investment decision on constructing Hinkley Point in Somerset.
“But like all investors in capital intensive infrastructure projects we need to have a compelling business case,” de Rivaz told the Committee. “In this respect our final investment decision requires more progress to be made.”
De Revaz said progress requires “above all” an agreement of a contract for difference (CfD) - a long term mechanism which will guarantee electricity prices.
“The responsibility now is on the government and us to deliver the CfD and transitional arrangements, the framework to make it possible for our project to move to the next stage around the end of the year,” he added.