The French power-group EDF will review possible dangers of upcoming British nuclear power plants on July 28. At the present, two billion euros have been spent of the budgeted 22 billion, and some of the initial partners have already refused to continue with the project. EDF will most likely need to restructure and cut costs to complete funding this project, endangering jobs for the goal of creating more.
In principle, EDF has a guaranteed price for the future production at Hinkley Point for 35 years. But there is no guaranteed demand for all the output and 35 years is a long time in Britain not to have any changes to a major contract. While EDF could normally use any excess production at Hinkley Point to feed into the continental electricity grid, there are exchange rate risks and perhaps market access issues.If there are no other financial backers, UK funds or companies, EDF could better turn its back on Britain.
Click here for the full article by Marel Michelson.