French energy giant EDF’s final investment decision on Hinkley Point C will be a fantastic demonstration of confidence in the UK, the area’s Conservative MP Ian Liddell-Grainger said today.
The company, 85 per cent owned by the French government, is expected to give the go-ahead to the £18 billion project at its board meeting on Thursday, ending months of uncertainty.
And, said Mr Liddell-Grainger, Conservative member for Bridgwater and West Somerset, that will send an important signal to the rest of the world.
“It will show Britain is open for business and getting on with the job of making a success of Brexit,” he said.
“The final investment decision will deliver a major economic boost to Britain, starting immediately, just as the country needs it.”
Mr Liddell-Grainger said Hinkley Point C will help strengthen the UK’s industrial base, creating 25,000 jobs and more than 1,000 apprenticeships, and help deliver the types of skills needed for other major infrastructure projects.
“EDF has said UK companies will be awarded contracts covering at least 60 per cent of the project’s construction value. This will result in around £1 billion per year invested into the UK economy,” he said.
“Just as importantly it will contribute to the regeneration of our local economy, and transform the employment aspirations and opportunities of everyone, including younger people.
“Infrastructure investment can kick-start and accelerate growth. It can deliver high- quality jobs, for people of all abilities and skills – and Hinkley Point C is clearly one such project.
“There is a further reason why I would welcome the go ahead now. Hinkley Point C is a crucial part of the UK’s energy strategy. In the last six years, 26 power stations have closed, removing 20 per cent of our generating capacity. By the end of 2030, a further 35 per cent of that 2010 capacity will have closed down, including all but one of our current nuclear power stations.
“Hinkley Point C will provide seven per cent of the UK’s generating needs and deliver secure and affordable low-carbon electricity for 60 years. Britain needs it to come on line, as planned, in 2025 and there is no time for delay."
“I look forward to the decision being made by EDF’s Board and to the contribution this huge project can make to Britain and to industry.”