Nuclear deal leaves key issues hanging

EDF and the government have reached a deal to build a new nuclear plant in Somerset, but whether it is good value for money will depend on wholesale electricity prices over the next four decades.

The UK’s first new nuclear plant since 1995 will be built at Hinkley Point in Somerset after EDF and the government agreed the level of subsidy for the project.

But the deal is more expensive than expected and the plant will not open until at least 2023 – three years after the government insisted it would be operational.

On 20 October, energy secretary Ed Davey announced an “historic” deal had been reached that was “good for the UK”.

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