Just as the FT’s reports from Tehran show that there is a long way to go on one nuclear deal, so it also seems that negotiations on the £16bn plan to build new nuclear for the UK at Hinkley Point in Somerset are far from over.
When agreement between the UK Government and EDF on the strike price was announced six weeks ago the impression was given that the deal was done. This is not correct. Numerous details remain unresolved, opposition to the costs involved and the structure of the deal has mounted and, crucially, the financing has not been agreed. Full-scale construction work cannot begin until the funding is in place. The key lies with the Chinese. Read more