Arab Today, arab today eu approves uks first nuclear plant for a generation
Last Updated : GMT 07:45:04
Arab Today, arab today
Arab Today, arab today

EU approves UK's first nuclear plant for a generation

Arab Today, arab today

Arab Today, arab today EU approves UK's first nuclear plant for a generation

Development land at Hinkley Point
Brussels - AFP

The EU on Wednesday approved Britain's ambitious plan to build its first nuclear plant for a generation, with French and Chinese help, marking a major victory for nuclear energy three years after the Fukushima disaster.
The bloc's competition watchdog said Britain had "significantly modified" its funding plans for the £16-billion ($26-billion, 18.9-billion-euro) deal in response to concerns about whether aspects of the deal amounted to state subsidies.
The Hinkley Point project, to be built by France's EDF, had encountered fierce resistance from activists and several member states, but a vote by the bloc's 28 commissioners narrowly backed the deal.
It is one of the world's most ambitious nuclear deals and is seen as a key boost to an industry brought to its knees by the 2011 Fukushima meltdown in Japan.
"On this basis and after a thorough investigation, the Commission can now conclude that the support is compatible with EU state aid rules," EU Competition Commissioner Joaquin Almunia said in a statement.
Austria has vowed to fight the decision in court, and other member states have voiced concerns that the project makes a mockery of the EU's bloc's stated policy to promote solar and wind power.
Ireland is particularly concerned as the Hinkley Point site is not far from the Irish coast.
A year ago, the British government signed the huge deal for EDF to build two reactors at Hinkley Point C in Somerset, southwestern England, to meet Britain's future energy needs.
Under the accord, which the EU estimates to be worth 31 billion euros, EDF gets a 45-50 percent stake, China General Nuclear (CGN) and China National Nuclear Corporation (CNNC) will have a combined 30-40 percent and another French firm, Areva, 10 percent.
But the European Commission, the EU's executive arm, launched the probe in late 2013, delving closely into the project's elaborate price guarantee system that critics claim will prove hugely expensive to British consumers for decades to come.
In its revision, Britain promised to limit potential profit for private investors involved in the project, but the overall structure of the deal was left intact.
- 'Sell-out' -
"This is a world record sell-out to the nuclear industry at the expense of taxpayers and the environment," said Greenpeace EU legal adviser Andrea Carta after the decision.
"It’s such a distortion of competition rules that the Commission has left itself exposed to legal challenges," he added.
Environmentalists see Hinkley Point as an unnecessary support of nuclear energy just when the use of renewables, such as wind and solar power, is beginning to take hold.
But the EU Commission insists that the choice of energy source, no matter how controversial, is strictly up to the member state.
"The responsibilities are clearly stated. We are fulfilling our duties just as UK authorities fulfil theirs on deciding what they want as investment in their own country," Almunia said in a news conference.
Sources told AFP that 16 votes, one more than the 15 needed, approved the project in a rare occurence of a commission decision going to a vote and not made through consensus.
Austrian Chancellor Werner Faymann said his government would "prepare and file a complaint at the European Court of Justice" to fight the greenlit project.
The EU's decision was backed up "neither by ecological nor economic reasons" and sets a "negative precedent", he said in a statement

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today eu approves uks first nuclear plant for a generation Arab Today, arab today eu approves uks first nuclear plant for a generation

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today 17.4 million tourists visit UAE in 2016

GMT 00:47 2017 Monday ,27 February

17.4 million tourists visit UAE in 2016
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Kalam Nawaem made a difference in social issues

GMT 06:43 2017 Tuesday ,28 February

Kalam Nawaem made a difference in social issues
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Aspires present the story of Egypt’s first president

GMT 06:18 2017 Sunday ,26 February

Aspires present the story of Egypt’s first president
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 06:28 2017 Tuesday ,28 February

Dumbphones survive rise of the smartphone

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday