EDF cuts spending on planned Hinkley nuclear power plant
EDF is reducing its spending on its planned new nuclear power plant at Hinkley Point in Somerset.
The company said it is refocusing its activities to control costs and that there will be a reduction in the number of people working on the project.
Negotiations with the government over how the huge project will be funded are continuing. The company said progress is being made.
EDF had hoped to conclude negotiations by the end of 2012.
EDF said that its decision “reflects its priorities ahead of securing the financing necessary for the project”.
“In this context much activity including further detailed pre-construction engineering work will continue ahead of the later construction phase,” it said in a statement.
“Negotiations with the UK government to agree a…
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