EDF Agrees to Build U.K.’s First Nuclear Plant Since 1995
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Electricite de France SA will build the U.K.’s first nuclear reactors since 1995 after reaching a deal with the government on guaranteed prices for the power they’ll generate.
EDF, together with partners Areva SA and two Chinese nuclear companies, agreed to construct the plant at Hinkley Point in southwest England after the government offered a power price that’s almost double today’s market rate. The project will cost about 16 billion pounds ($26 billion) and take 10 years to build, the Paris-based company said in a statement.