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Ed Davey Who Struck ‘Worst Ever’ Deal With EDF Now Works For EDF Lobbying Firm

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Matt Dathan, Daily Mail

The minister who struck a deal to guarantee the French firm EDF would be paid nearly three times the present wholesale price of electricity to build the Hinkley Point nuclear power station now works for a lobbying firm that advises the energy company.

Prime Minister David Cameron, centre, is said to have made big concessions to get EDF to invest in Hinkley. He is pictured alongside Sir Edward Davey (pictured centre left), who signed the deal with EDF as Energy Secretary in 2013 

Prime Minister David Cameron, centre, is said to have made big concessions to get EDF to invest in Hinkley. He is pictured alongside Sir Edward Davey (pictured centre left), who signed the deal with EDF as Energy Secretary in 2013 

The £18billion deal with EDF to build the power station in Somerset – which would be the most expensive in the world and would generate 6 per cent of Britain’s energy – was described by one energy expert as the ‘worst deal I’ve ever seen’.

It was announced by the then Lib Dem Energy Secretary Edward Davey in 2013 and he hailed the project as the first time a nuclear power station was being built without money from the UK taxpayer.

He lost his Kingston and Surbiton seat to the Tories at May’s General Election but was handed a knighthood for his ‘political service’ in the New Year’s honours and is now employed part-time by lobbying firm MHP Communications, which count EDF Energy as one of their clients.

Under the terms of the deal the UK Government agreed to pay EDF £92.50 for every megawatt hour of energy that Hinkley Point generates, in addition to compensation for inflation.

This price is currently nearly three times the wholesale price for electricity and at the time the deal was agreed it was twice the wholesale cost.

But the future of the deal was thrown into doubt last night after Thomas Piquemal, the chief executive of EDF, quit the firm, claiming the £18billion French-Chinese deal would endanger the firm’s finances.

His resignation came just days after Francois Hollande insisted the French Government – which owns an 84.5 per cent share in the company – was still fully behind the deal.

Now analysts have urged the UK Government to abandon the deal at Hinkley Point, claiming that it could save the UK taxpayer £17billion if it replaced it with a tried and tested alternative.

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