黑洞社区

EDF has announced it will extend the life of four UK nuclear power plants by years each, as it continues to stall on making a final investment decision on new-build nuclear plant Hinkley Point C.

In full-year results published this morning, EDF said it will extend the life of Heysham 1 in Lancashire and Hartlepool in Teeside by five years each to 2024, while Heysham 2 and Torness (pictured) in East Lothian will be extended by seven years each to 2030.

EDF insisted it was 鈥渇ully ready鈥� for a final investment decision and to start construction on Hinkley Point C, adding that 鈥渇inal steps are well in hand to enable the full construction phase to be launched very soon鈥�.

The final investment decision has been repeatedly delayed. It had been expected today to coincide with EDF鈥檚 final results, but it was not on the firm鈥檚 board agenda yesterday, amid reports of funding difficulties for the project. The FT reported yesterday it could take 鈥渟everal months鈥� before the finance is sorted for the project.

However, 黑洞社区 revealed yesterday that EDF is still telling potential suppliers on Hinkley Point C to restart spending.

A source close to Hinkley said: 鈥淣othing has changed from EDF, the same message is still coming out.鈥�

The source also told 黑洞社区 they understood the final investment decision 鈥渄idn鈥檛 go to the board鈥� and that 鈥渟ome advisory work was done instead about private financing鈥�.

EDF instructed its suppliers to restart 鈥渦nconstrained spending鈥� on the scheme last month.

At the time, sources close to the process said: 鈥淓DF used the words 鈥榰nconstrained spending鈥� to the supply chain to get the project moving. By 鈥榰nconstrained鈥� they mean 鈥榳e鈥檙e going to go on as if a decision has been made.鈥欌��

A final investment decision was previously expected to be made in January at EDF鈥檚 monthly board meeting, but was reportedly taken off after last minute concerns from some of the project鈥檚 most important backers.

Reuters also said a new internal report by the former head of French state nuclear agency CEA, Yannick d鈥橢scatha, has raised doubts about whether Hinkley can be built on schedule.

It added that the project鈥檚 拢18bn (23.21 billion euros) cost is bigger than EDF鈥檚 22.5 billion euro market value.