- West Country (E)
- 3 updates
Nikki Clark from the Stop Hinkley Campaign.
Danny Alexander MP, Chief Secretary to the Treasury, announces the government's Hinkley guarantee in the Commons this morning (Thursday 27 June).
The government has announced a £10 billion infrastructure guarantee for a new nuclear power station at Hinkley Point in Somerset. The government has offered the money to EDF to help finance the £14 billion construction.
It is a commercial loan, not a subsidy. EDF has already prepared the site next to the two existing stations, but wouldn't commit to the project unless the government guaranteed a minimum price for the electricity the new reactors will produce.
Opponents fear it will mean a big increase in bills. Negotiations about the terms of the contract remain on-going.