Responding to the news that EDF have postponed building new nuclear reactors at Hinkley Point in Somerset until the French government offer additional finance, Molly Scott Cato MEP, Green MEP for the region and the Party’s economics speaker, said:
“The resignation of EDF’s finance director this week made it clear that the Hinkley deal was no longer commercially viable. This is confirmed by the company’s request for additional capital from the French government.
“Business within the EU single market is governed by state aid rules concerning how much subsidy governments can provide without distorting market competition. Any additional funding from the French government to EDF must be judged to be additional state aid and the existing decision by the Commission regarding the contractual arrangements for Hinkley would need to be reopened. This clearly also has implications for the ongoing legal action over the original Commission decision by the Austrian and Luxembourg governments.
“Hinkley is a disastrous white elephant that threatens the viability of EDF. It is clear it cannot stand on its feet commercially. It is time for it to give way to the more competitive option of renewable energy.”