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Business News

EDF boss warns on power station support

EDF Energy's chief executive Vincent de Rivaz threw down the gauntlet to the Government yesterday, warning that it needed to decide how much financial support to give new nuclear power stations so that potential investors like him could decide whether to go ahead with projects.

EDF is locked in discussions with the Government over a long-term, guaranteed price for electricity from its proposed plant at Hinkley Point in Somerset. This would see EDF receiving a "top-up" if the market price fell below that level, and Mr de Rivaz said it is essential to establish exactly how much this would be before he can commit to Hinkley Point.

"The Government has to do its part and the main issue now is to get on with the energy bill," he told a hearing of the Energy and Climate Change committee.

The Hinkley Point C power plant is a joint venture between EDF and Centrica.