UK Reaches Deal With EDF Group On £16B Nuclear Plant

Law360, Washington (October 21, 2013, 2:51 PM EDT) -- The U.K. government and French electricity utility EDF Group on Monday jointly announced that they had agreed to terms on the construction of the £16 billion ($25.8 billion) Hinkley Point C power plant, marking the first new nuclear plant deal in the U.K. in nearly three decades.

Under the terms of the deal, no public money will go into the construction of the plant, and if the plant comes in under budget, the savings are to be shared with U.K. taxpayers. EDF, as operator of the...
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