George Osborne’s gamble on a nuclear future for British energy looked increasingly risky last night as the company set to build the first new reactor for a generation postponed its “final investment decision”.
EDF had been expected to announce the go-ahead for the £18 billion Hinkley Point project today but the French state-owned company pulled back amid growing financial problems. It is reported to be seeking extra support from the French government amid a collapse in energy prices and the value of its shares. Hinkley Point C, in Somerset, was to be the beginning of a new nuclear era in Britain with EDF building the plant and China providing financial support.
Nuclear deals were the centrepiece of President Xi’s state visit in October and were