Boost for nuclear energy in Britain

 

Jun 27 - McClatchy-Tribune Regional News - Peter Campbell Daily Mail, London

New nuclear reactors in Britain will be backed by government guarantees, the Chancellor announced.

George Osborne said: "We're restarting our civil nuclear programme when other countries are unable to continue theirs. Now we provide guarantees for new nuclear."

Details of the deal are set to be revealed today by Energy Secretary Ed Davey and Chief Secretary to the Treasury Danny Alexander.

As part of a bid to attract more than pounds sterling 100bn of private investment in the energy sector, the Chancellor also unveiled plans for tax changes and planning laws to "put Britain at the forefront of exploiting shale gas."

Power giant EDF wants to build two reactors at Hinkley Point, Somerset, in a pounds sterling 14bn project.

The firm asked the Government to extend its Infrastructure Loan Guarantee Scheme to the venture. But the project will not be able to get underway until the price EDF can charge -- the strike price -- is agreed.

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