21 Oct 2013:
French Utility Company
Agrees to Build Major Nuclear Plant in U.K.
The British government and the French state-controlled utility company, EDF Group, have agreed to build the U.K.'s first nuclear power plant in a generation. The new plant, to be built at Hinkley Point in southwest England, is part of the British government's ongoing efforts to cut carbon emissions in half by the mid-2020s. To meet that goal, the U.K. plans to renew some of its existing nuclear plants and build several new plants to replace aging ones, the New York Times reports
. Once completed, the Hinkley Point nuclear power station will supply 7 percent of the country's electricity — enough to power 6 million homes. Consumers and taxpayers will cover most of the projected £16 ($26 billion) overall cost, but the proposed project is expected to face opposition since EDF will be guaranteed a price of roughly £90 ($145) per megawatt hour for 35 years, a rate that is considerably higher than current electricity costs. Two Chinese nuclear power companies will have a 30 to 40 percent stake in the project, the Times reports.