£2bn Treasury guarantee for Hinkley C

摘要

The government is to underwrite the first £2bn of EDF's proposed 3.26-gigawatt Hinkley C nuclear plant in Somerset. Chancellor George Osborne announced the move in September at the 7th UK-China Economic and Financial Dialogue in Beijing. It is seen as a key confidence-building step ahead of a final decision on the £34bn twin European pressurised water reactor (EPR) project by EDF and Chinese partner investors. This is likely to be announced in mid-October during a state visit to the UK by the Chinese premier. But the Treasury also revealed it was an "initial deal" to "pave the way for a final investment decision by energy company EDF, supported by China General Nuclear Corporation and China National Nuclear Corporation, later this year, and with further amounts potentially available in the longer term".