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EDF Energy may delay Hinkley Point C nuclear project

EDF awards UK nuclear power plant project management contract

EDF Energy said it might delay a controversial nuclear power plant project due to a drop in profits from 2014.
The French firm reported a 25 percent decrease in profits in 2014 to £863 million ($1.3 billion) due to challenging markets, according to The Guardian. The company said a final investment decision is only possible within the next few months, but it was making progress with Chinese investors. The company said in the article that temporary outages at Heysham 1 and Hartlepool, in addition to a £136 million ($209 million) charge for natural gas generating and storage assets, hurt its bottom line. The European Commission faces a potential lawsuit from Austria, which says the project does not deserve the £17 billion ($27.8 billion) in subsidies.
EDF has fallen behind schedule and over budget at other nuclear projects, including Flamanville in France and Olkiluoto 3 in Finland. Hinkley Point is on schedule for completion in 2023.

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