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| EDF boss confident Hinkley Point C nuclear plant will be built | EDF boss confident Hinkley Point C nuclear plant will be built |
| (35 minutes later) | |
| The boss of EDF says he is still confident about Hinkley Point C being built despite the UK government throwing the nuclear power plant into doubt by launching a fresh review. | The boss of EDF says he is still confident about Hinkley Point C being built despite the UK government throwing the nuclear power plant into doubt by launching a fresh review. |
| Jean-Bernard Levy, the chief executive of EDF, said on Friday he had no doubt about the government’s support for the £18bn project. | |
| The board of EDF approved Hinkley Point C by 10 votes to seven at a meeting on Thursday, but the UK government then announced it would conduct another review of the controversial project and announce its decision in the early autumn. | The board of EDF approved Hinkley Point C by 10 votes to seven at a meeting on Thursday, but the UK government then announced it would conduct another review of the controversial project and announce its decision in the early autumn. |
| Related: Why have ministers delayed final approval for Hinkley Point C? | Related: Why have ministers delayed final approval for Hinkley Point C? |
| Greg Clark, the business, energy and industrial strategy secretary, said the government would “now consider carefully all the component parts of this project”. | Greg Clark, the business, energy and industrial strategy secretary, said the government would “now consider carefully all the component parts of this project”. |
| EDF confirmed it had not been warned about the government’s plan to conduct a review of the Hinkley project. EDF’s UK chief executive, Vincent De Rivaz, was expected in Somerset on Friday morning alongside senior company officials to give interviews about the project. The event was cancelled after the government’s unexpected intervention. | EDF confirmed it had not been warned about the government’s plan to conduct a review of the Hinkley project. EDF’s UK chief executive, Vincent De Rivaz, was expected in Somerset on Friday morning alongside senior company officials to give interviews about the project. The event was cancelled after the government’s unexpected intervention. |
| Shares in EDF rose more than 10% in France on Friday on the back of the delay and better-than-expected financial results. Trade union leaders in France have said Hinkley Point could financially ruin the company, which has net debts of more than €37bn (£31bn). | |
| However, Levy played down the delay. “There is no comment to make. The statement made by Mr Clark is perfectly clear,” he said. “I have no doubt about the support of the British government led by Mrs May.” | However, Levy played down the delay. “There is no comment to make. The statement made by Mr Clark is perfectly clear,” he said. “I have no doubt about the support of the British government led by Mrs May.” |
| China, which is helping to finance the project, also reiterated its commitment to Hinkley Point C. China General Nuclear Power Corporation (CGN) has taken a 33% stake in the project and a delegation had flown to the UK this week to sign contracts. | China, which is helping to finance the project, also reiterated its commitment to Hinkley Point C. China General Nuclear Power Corporation (CGN) has taken a 33% stake in the project and a delegation had flown to the UK this week to sign contracts. |
| A CGN spokesman said: “We respect the new government’s need to familiarise itself with a project as important to the UK’s future energy security as Hinkley Point C and we stand ready to help the government in this respect. CGN remains committed to delivering this much-needed nuclear capacity with our strategic partners, EDF, and providing the UK with safe, reliable and sustainable energy.” | |
| The government’s new review was met with fierce criticism from trade unions in the UK. The construction of Hinkley Point C is expected to create 25,000 jobs. | The government’s new review was met with fierce criticism from trade unions in the UK. The construction of Hinkley Point C is expected to create 25,000 jobs. |
| Related: Hinkley Point is bad business. Theresa May should put it out of its misery | Simon Jenkins | Related: Hinkley Point is bad business. Theresa May should put it out of its misery | Simon Jenkins |
| The GMB called the decision “bewildering and bonkers”. Justin Bowden, GMB national secretary for energy, said: “After years of procrastination, what is required is decisive action not dithering and more delay. This unnecessary hesitation is putting finance for the project in doubt and 25,000 new jobs at risk immediately after Brexit. It is a gross error of judgement and must be reversed.” | The GMB called the decision “bewildering and bonkers”. Justin Bowden, GMB national secretary for energy, said: “After years of procrastination, what is required is decisive action not dithering and more delay. This unnecessary hesitation is putting finance for the project in doubt and 25,000 new jobs at risk immediately after Brexit. It is a gross error of judgement and must be reversed.” |
| The CBI said the government needs to show that Britain is open for business. | The CBI said the government needs to show that Britain is open for business. |
| Josh Hardie, CBI deputy director-general, said: “While it is understandable the government wants to get to grips with the details of the Hinkley contract, it must press ahead to finalise the deal as soon as possible. | Josh Hardie, CBI deputy director-general, said: “While it is understandable the government wants to get to grips with the details of the Hinkley contract, it must press ahead to finalise the deal as soon as possible. |
| “The UK is facing a major investment challenge to ensure a secure, low-carbon and affordable energy supply. It’s crucial that we see clear and timely decisions, and send a definite message that the UK is well and truly open for business.” | “The UK is facing a major investment challenge to ensure a secure, low-carbon and affordable energy supply. It’s crucial that we see clear and timely decisions, and send a definite message that the UK is well and truly open for business.” |
| However, Simon Walker, director-general of the Institute of Directors, said the delay by the new government is sensible. | However, Simon Walker, director-general of the Institute of Directors, said the delay by the new government is sensible. |
| “Considering the vast scale of this project, and the high price asked for the power generated, it is only sensible for Greg Clark to pause before making his decision,” he said. | “Considering the vast scale of this project, and the high price asked for the power generated, it is only sensible for Greg Clark to pause before making his decision,” he said. |
| “The IoD is a firm supporter of building new nuclear plants to generate reliable, low-carbon energy, but the government is right to scrutinise the value of such long-term investments carefully.” | “The IoD is a firm supporter of building new nuclear plants to generate reliable, low-carbon energy, but the government is right to scrutinise the value of such long-term investments carefully.” |
| French energy unions reacted angrily to EDF giving the go-ahead for Hickley Point C, saying it was a political decision. | French energy unions reacted angrily to EDF giving the go-ahead for Hickley Point C, saying it was a political decision. |
| A joint union statement said the decision had been made “against the unanimous opinion of the staff representative and passed using force, an unusual step in the history of the company”. | A joint union statement said the decision had been made “against the unanimous opinion of the staff representative and passed using force, an unusual step in the history of the company”. |
| EDF’s central committee is taking legal action in an attempt to suspend the company’s decision. A hearing is expected on 2 August. A second legal attempt will be considered by judges on 22 September. | EDF’s central committee is taking legal action in an attempt to suspend the company’s decision. A hearing is expected on 2 August. A second legal attempt will be considered by judges on 22 September. |
| “Such a project cannot be carried out or succeed against the will of the unions and staff,” said the union statement. | “Such a project cannot be carried out or succeed against the will of the unions and staff,” said the union statement. |
| The three unions have fought against what they describe as the hasty launch of the project. | The three unions have fought against what they describe as the hasty launch of the project. |
| The far-right Front National also released a statement attacking the decision, which it said had been made under pressure from France’s socialist government, adding that it “exposed our energy company to considerable financial risks”. | The far-right Front National also released a statement attacking the decision, which it said had been made under pressure from France’s socialist government, adding that it “exposed our energy company to considerable financial risks”. |
| “EDF is already financially weakened by the sale of electricity at a loss to its rivals in the French market, supported by the European commission,” the FN said. | “EDF is already financially weakened by the sale of electricity at a loss to its rivals in the French market, supported by the European commission,” the FN said. |
| “The government should have forced EDF to concentrate on the successful completion of the Flamanville plant [in France] and the safety of older nuclear power plants whose security needs to be strengthened with a major refit programme.” | “The government should have forced EDF to concentrate on the successful completion of the Flamanville plant [in France] and the safety of older nuclear power plants whose security needs to be strengthened with a major refit programme.” |