According to Private Eye:
THE global nuclear industry is lobbying in overdrive, evidently with great success in No 10, the major European nuclear incumbent EDF well to the fore. Unfortunately for the French firm, its failings advertise themselves loudly. At home, France is suffering the highest electricity prices in Europe, which have blown clean through its price cap.
This is down to major operational difficulties with the large fleet of EDF nukes. Output is at historic lows and France, traditionally an exporter of electricity, is now importing.
Here, EDF’s efforts to build Hinkley Point C are coming unstuck again (Eyes passim), with more delays and cost increases – it’ll now be a mere 10 years later than originally planned. Blaming Covid and Ukraine, in fact EDF has badly misjudged the size of the construction workforce it needs.
Financial disclosures in France suggest EDF fears its Chinese partner in the Hinkley project may not stump up its share of the new cost overrun, and also that EDF has run out of cash on its Sizewell project, for which it now desperately needs the government to contribute. Why will EDF’s assessment of the problematic bedrock at Sizewell (Eye 1527) prove any better than at Hinkley? How any of this rationally justifies Johnson making a “big bet” on more nukes, and on EDF at Sizewell in particular, is anyone’s guess.