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Edf Cuts Jobs And Spending On Planned Nuclear Power Plant At Hinkley Point

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Power giant EDF Energy is cutting spending and reducing the number of staff working on its development of a new generation nuclear plant at Hinkley Point in Somerset.

The French company said on Tuesday that it "has taken steps to refocus its activities" at the Hinkley Point C project in a bid to control costs.

In a statement, the company, which is spending £1m a day on the project, said: "This 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 added: "This means there will be a reduction in the number of people working on the project for the time being."

EDF (Paris: FR0010242511 - news) said that "negotiations with the Government to agree a contract for the electricity from Hinkley Point C are making progress".

At the start of March, EDF said it was scaling back spending on the £14bn project for reactors at Hinkley Point “until there is greater clarity around its negotiations with the Government”.

This would “have an impact on recruitment and jobs”, EDF said, understood to mean the loss of 150 jobs about one-fifth of the project’s workforce.

At the time talks between EDF and the Government over building Britain’s first new nuclear plant in a generation at Hinkley Point were said to be at "crisis point” and faced failing because of deadlock over subsidies for the project.

Last week, negotiations between the French company and the government were reported to be continuing to stall over acceptable costs for the project and the rate of return that EDF should be granted.

Chief executive Henri Proglio insisted he was “in no hurry” to agree a price his firm will receive for powe r produced at the £14bn Hinkley Point project.

“We have precise conditions in mind, and we are negotiating with the British,” Mr Proglio said. “We obtained an extension of the lifespan of existing plants. As far as I am concerned, negotiations can fail.”

It has been estimated that the project will create between 20,000 and 25,000 jobs during construction and 900 permanent jobs once in operation.

In February, British Gas owner Centrica (LSE: CNA.L - news) pulled out of its partnership with EDF to build new nuclear power stations in the UK.

The withdrawal will force EDF to find a new partner, possibly from China, but Mr Proglio has repeatedly warned that without a favourable strike price no other companies would be interested in the project.

Meanwhile, on Sunday, a s enior group of energy experts warned that Britain’s nuclear industry was being put at risk by ministers’ dithering over the building of new plants.

The group of 18 leading nuclear scientists suggested that plans to build five new plants by 2030 could be under threat due to a lack of progress on the first of the projects.

Building a "fleet" of new power stations could lower household bills, provide a much-needed source of low-carbon energy and position Britain as a world leader in the global nuclear market, they claim.

But they said the apparent stalling of talks with EDF over its planned Hinkley Point power station "undermines” this ambition and could scare away the investors who are needed to secure the country’s future energy supply.

Of course.

Greatest shame is that Britain can no longer create engineering marvels like nuclear plants.

At the mercy of French energy conglomerates, and China?

Jeeebus! Britain is going to a dark place, fast.

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150 jobs before the multiplier effect on indirect jobs...

This does have the feeling of a negotiating tactic with the government though.

EdF needs to get a good price for the electricity and the government needs to show it argued hard for that price, both can get what they want if they sit there and do nothing for a couple of months ;), unfortunately this tactic costs EdF a fair bit every day.

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Of course.

Greatest shame is that Britain can no longer create engineering marvels like nuclear plants.

At the mercy of French energy conglomerates, and China?

Jeeebus! Britain is going to a dark place, fast.

Pity BNFL sold Westinghouse.

However, should the will have been there, a UK company like AMEC in a consortium with, say, Westinghouse and Alstom, could still do it.

As they did for Sizewell B not so long ago.

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Of course

Greatest shame is that Britain can no longer create engineering marvels like nuclear plants.

At the mercy of French energy conglomerates, and China?

Jeeebus! Britain is going to a dark place, fast.

Even darker and talking of 'courses'

I recently found out UEA is built on part of an old GOLF course

- 'LINKS' straight to St Andrews and Scottish Rite Masons playing 'GAMES'

Jones and his 'J' curves (2x Johns)

Edited by erranta

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Even darker and talking of 'courses'

I recently found out UEA is built on part of an old GOLF course

- 'LINKS' straight to St Andrews and Scottish Rite Masons playing 'GAMES'

Jones and his 'J' curves (2x Johns)

You need to take your meds before posting.

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150 jobs before the multiplier effect on indirect jobs...

This does have the feeling of a negotiating tactic with the government though.

EdF needs to get a good price for the electricity and the government needs to show it argued hard for that price, both can get what they want if they sit there and do nothing for a couple of months ;), unfortunately this tactic costs EdF a fair bit every day.

Interesting to find out how many local jobs (rather than contractors) this will effect..Most specialists will come far and wide, but I know EDF were trying to recruit as many local (Somerset-based) companies as possible. I went through Bridgwater about a week ago (I know!)....Seems to be a bit of a boom town at the mo...

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Of course.

Greatest shame is that Britain can no longer create engineering marvels like nuclear plants.

At the mercy of French energy conglomerates, and China?

Jeeebus! Britain is going to a dark place, fast.

Nuclear power seems to be a bit like space travel. The more you understand it, the harder it gets.

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http://www.burnham-on-sea.com/news/2013/hinkley-collapse-fears-23-04-13.php

EDF playing chicken with the government, as far as I'm convcerned, I don't think there's any doubt that this will go ahead.

I live about 5 miles away, Hinkley B is on it's last legs, running at about 70% capacity, even then it has been given an extension.

The safe thing to do is build c and shut b asap.

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Interesting to find out how many local jobs (rather than contractors) this will effect..Most specialists will come far and wide, but I know EDF were trying to recruit as many local (Somerset-based) companies as possible. I went through Bridgwater about a week ago (I know!)....Seems to be a bit of a boom town at the mo...

I reckon most will be the local construction type workers who have been doing the pre-construction site prep (security fencing, access road construction, site clearance) as they will have probably done as much as is sensibly possible without the big green button being pressed.

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Greatest shame is that Britain can no longer create engineering marvels like nuclear plants.

Jeeebus! Britain is going to a dark place, fast.

Yes, considering Britain designed and built the first ever nuclear powered electric power station on the planet!

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  • 243 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
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      • Even
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      • up 5%



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