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| Theresa May set to give conditional approval for Hinkley Point C | Theresa May set to give conditional approval for Hinkley Point C |
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| Theresa May is poised to give the conditional go-ahead to the £18bn Hinkley Point C nuclear plant. | |
| The prime minister announced a review of the contract to build the power station over the summer amid concerns about the potential security impact of Chinese involvement and the costs to the Treasury of guaranteeing a minimum price for the electricity produced by the plant. | The prime minister announced a review of the contract to build the power station over the summer amid concerns about the potential security impact of Chinese involvement and the costs to the Treasury of guaranteeing a minimum price for the electricity produced by the plant. |
| Hinkley is due to be built by the French largely state-owned energy company EDF, with financial backing from China. | Hinkley is due to be built by the French largely state-owned energy company EDF, with financial backing from China. |
| George Osborne, who was removed as chancellor by May in one of her first acts as prime minister, signed the contract for Hinkley last year as part of his attempt to create a “golden decade” of relations with Beijing. | George Osborne, who was removed as chancellor by May in one of her first acts as prime minister, signed the contract for Hinkley last year as part of his attempt to create a “golden decade” of relations with Beijing. |
| But May’s joint chief of staff Nick Timothy had previously expressed doubts about the security implications of allowing China to be involved in such a key piece of national infrastructure. Greg Clark, the business, energy and industrial strategy secretary, was keen to take a closer look at the details of the contract. | But May’s joint chief of staff Nick Timothy had previously expressed doubts about the security implications of allowing China to be involved in such a key piece of national infrastructure. Greg Clark, the business, energy and industrial strategy secretary, was keen to take a closer look at the details of the contract. |
| Analysts had warned at the time that the electricity price floor promised to secure the deal appeared to be too generous, given the prevailing market price. There were also concerns about linking the deal with the proposed Bradwell plant in Essex, which China is also set to build. | |
| The shadow energy secretary, Barry Gardiner, said he would welcome a decision to give Hinkley the go-ahead, saying: “If the secretary of state has now managed to reduce the cost to British billpayers, in line with my suggestions, I promise not to gloat. I will simply say well done for sticking up for the consumer. | |
| “But in return, the government must stop the dithering. Their delay has put at risk £18bn of investment and jeopardised 25,000 skilled jobs in the nuclear industry, which are essential for the UK’s balanced energy portfolio.” | “But in return, the government must stop the dithering. Their delay has put at risk £18bn of investment and jeopardised 25,000 skilled jobs in the nuclear industry, which are essential for the UK’s balanced energy portfolio.” |
| May has come under pressure from the Chinese government to approve the project, with Beijing’s ambassador to London warning that it could affect diplomatic relations between the two countries. The French president, François Hollande, has also been keen to receive reassurances about the future of Hinkley. | May has come under pressure from the Chinese government to approve the project, with Beijing’s ambassador to London warning that it could affect diplomatic relations between the two countries. The French president, François Hollande, has also been keen to receive reassurances about the future of Hinkley. |