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Hinkley Point Nuclear Reactor Faces Fresh Delay

Kiran Stacey and Michael Stothard, Financial Times

Senior figures at EDF are pushing to delay final approval for the £18bn Hinkley Point nuclear reactor for up to a year as the company seeks new investors for the project.

Undated handout artists impression issued by EDF of the how the new Hinkley Point C station will look after the final go-ahead was given by the European Commission for the new £16 billion nuclear power station in the UK. PRESS ASSOCIATION Photo. Issue date: Wednesday October 8, 2014. Commissioners approved revised plans to subsidise and operate the plant, which will be built by EDF Energy at Hinkley Point in Somerset. See PA story ENERGY Hinkley. Photo credit should read: HayesDavidson/EDF Energy/PA Wire  NOTE TO EDITORS: This handout photo may only be used in for editorial reporting purposes for the contemporaneous illustration of events, things or the people in the image or facts mentioned in the caption. Reuse of the picture may require further permission from the copyright holder.

The long-delayed scheme to build the first in a wave of nuclear power stations in the UK has been awaiting a final investment decision from the French utility company for months.

EDF has said repeatedly that approval for the plant in Somerset, in the west of England, is “imminent”. Jean-Bernard Lévy, chief executive, said last week the decision was “very close”.

But two people involved said it could be delayed until next year.

According to one person close to the company, some directors are pushing EDF to find other investors before giving the go-ahead so that it will not have to take the full liabilities on to its balance sheet.

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