Hinkley Point ‘close to a deal’

The deal between the government and EDF Energy to build a new nuclear plant at Hinkley Point could be concluded within a matter of weeks, according to today’s Financial Times.

The newspaper reported that energy minister Michael Fallon had told it: “We’re not quite there yet but I hope we will be in the next few weeks.”

A deal is expected to be followed by the announcement of Chinese investors coming into the project, to replace Centrica, which pulled out in February citing uncertainty and spiralling costs.

EDF has been negotiating with ministers over the strike price for nuclear power for months. Negotiations are now reported to be between £90 and £93 per megawatt hour.