EC To Probe UK Aid For £16B Hinkley Point Nuclear Plant

Law360, Washington (December 18, 2013, 4:01 PM EST) -- The European Commission announced Wednesday that it will probe U.K. plans to subsidize the construction and operation of the £16 billion ($26.3 billion) Hinkley Point C power plant, saying it has concerns about whether the subsidies fall within European Union state aid rules.

As part the agreement between French utility EDF Group and the U.K. government for the construction of the plant, the government guaranteed a so-called strike price of at least £89.50 per megawatt-hour — £92.50 per megawatt-hour should another project proposed for construction by EDF,...
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