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UK nuclear deal said to be imminent.
Britain's hopes for new nuclear power may at last be cleared by ministers, with EDF deal set to be struck within weeks
Britain's hopes for new nuclear power may at last be cleared by ministers, with a deal set to be struck within two weeks. Crucial talks between EDF, which wants to build two new generators at its Hinkley Point site in Somerset, and Government ministers have dragged on for months, with both sides threatening to walk away. But now sources close to the talks say ‘the mood music has changed’.
A deal, which has eluded both sides so far, is now said to be less than two weeks away from being struck.
...snip...
To compensate for the higher price, sources say tough terms and conditions in the contract will prevent EDF from making ‘massive windfall profits’ from the venture – a key political concern because ministers do not want to be seen to be over-paying to the French state-backed firm.
A clause is likely to be inserted that will allow the Government to claw back money from the company to pass back to consumers if this happens, it is understood.
http://www.thisismoney.co.uk/money/markets/article-2324435/EDF-UK-closing-nuclear-deal.html
Britain's hopes for new nuclear power may at last be cleared by ministers, with a deal set to be struck within two weeks. Crucial talks between EDF, which wants to build two new generators at its Hinkley Point site in Somerset, and Government ministers have dragged on for months, with both sides threatening to walk away. But now sources close to the talks say ‘the mood music has changed’.
A deal, which has eluded both sides so far, is now said to be less than two weeks away from being struck.
...snip...
To compensate for the higher price, sources say tough terms and conditions in the contract will prevent EDF from making ‘massive windfall profits’ from the venture – a key political concern because ministers do not want to be seen to be over-paying to the French state-backed firm.
A clause is likely to be inserted that will allow the Government to claw back money from the company to pass back to consumers if this happens, it is understood.
http://www.thisismoney.co.uk/money/markets/article-2324435/EDF-UK-closing-nuclear-deal.html