Nationalized EDF “will not build any new nuclear sites in the UK”

The nationalization of French energy giant EDF means it is unlikely to spearhead future nuclear power projects in the UK, says a senior industry official

The nationalization of French energy giant EDF means it is unlikely to spearhead future nuclear power projects in the UK, according to a senior industry official.

Developer Hinkley Point C will instead focus its investments on reactors in France, the source said.

French Prime Minister Elisabeth Borne announced last week that the state would buy back the 16% of EDF shares it does not yet own.

Taking a step back: French Prime Minister Elisabeth Borne announced that the state would buy back the 16% of EDF shares it does not already own

EDF, one of Britain’s leading domestic energy providers, will continue work on Hinkley in Somerset, as well as Sizewell C in Suffolk, which is still pending UK government approval.

But the source said EDF would now focus on France as it battles the energy crisis sweeping across Europe, adding: ‘The chances of it pouring money into another UK plant are incredibly small. “.

“It’s been a long time coming because being fully nationalized means he can invest more money in French projects without having to worry about state aid.”

Many industry players welcomed the move. Moody’s, the credit rating service, said it would give the French government “the financial means to develop new electricity capacity in France, including nuclear power generation”.

France gets 70% of its electricity from nuclear power, while UK power plants generate just 16% of the UK’s supply. President Emmanuel Macron is pushing for the construction of up to six reactors in France.

An EDF spokesman said: “EDF’s teams in the UK are fully committed to continuing to operate and build our power stations and renewables, and to serve our customers.”

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