UK Approves Hinkley Nuclear Plant

According to a recent report from the Wall Street Journal, the British government has approved the construction of a new nuclear power plant. The plant, located at Hinkley Point in southwest England, will be the first nuclear plant built in the nation since the 1990s. Similar to the U.S., nuclear construction in Britain has slowed significantly in recent decades.

The new plant at Hinkley Point will cost $23.8 billion and will be largely owned by Électricité de France SA, known commonly as EDF. The utility is partly owned by the French government. The Chinese are also playing a pivotal role in the plant’s construction, with China General Nuclear Power Corporation (CGN) providing about a third of the funding. For its part, CGN announced it was “delighted” with the decision to move forward on the Hinkley Point nuclear facility.

“CGN looks forward to leveraging its 30 years’ experience in nuclear construction and operation and playing an important role in meeting the U.K.’s future energy needs,” the company said.

When operational, the new Hinkley nuclear plant will supply 7% of Britain’s electricity for sixty years. It is also expected to create 26,000 jobs and apprenticeships.

Approving Hinkley wasn’t without significant obstacles. The U.K’s new Prime Minister, Theresa May, had a number of concerns about foreign investment in domestic nuclear plants. She and her government also required additional time to be satisfied with the plant’s security issues. Part of May’s approval included a requirement that the British government could become involved in any potential sale of the controlling stake in the plant. Both the operator and investors in the new nuclear plant viewed the issues raised by Prime Minister May as minor and easily remedied.

“EDF will keep a controlling stake in the project,” company officials said. “We have two thirds of the capital, there could be changes later on, but it’s not on the agenda.”

There were also reports that the French and Chinese will collaborate to receive approval for a Chinese Hualong reactor at Bradwell, near Essex. If built, the new reactor would be the first Chinese-built nuclear reactor in the Western Hemisphere.

“Britain is not really in a position to say no to China now,” explained Kerry Brown, professor of Chinese Studies and Director of the Lau China Institute at King’s College.

For policy makers in the United States, the momentum toward nuclear in Britain should be a sign that nuclear back home deserves more consideration. With tighter rules governing carbon dioxide emission, adding to America’s nuclear fleet is an important part of our energy future.