Hinkley Point: Somerset County Council think Hinkley will provide a huge boost
Monday, October 21, 2013
HINKLEY Point C will be a huge boost to prospects of jobs, businesses and community spending is the verdict Somerset County Council have reached.
This verdict follows the news that the Government and energy provider EDF have reached commercial agreement on the key terms of a proposed investment contract that brings the prospect of a new nuclear reactor at Hinkley Point a big step closer.
Somerset County Council said: “The news was a massive boost for Somerset’s entire economy,” speaking after the announcement where the agreement in principle had been reached, including a guaranteed ‘Strike Price’ for energy.
If Nuclear development at Hinkley Point went ahead £128m would be made available for community benefit projects for the next 40 years once the plant is operational.
Councillor John Osman, Somerset County Council’s leader said: “This huge step forward is important for Somerset’s young people. It’s important for businesses and our local economy and it’s important for our communities. This puts Somerset firmly in the national spotlight and it’s now tremendously important we all work together to get the best benefits we can for them.”
Councillor David Hall, Cabinet Member for Business, Inward Investment and Policy said: “This is a huge step forward on what has been a very long road towards the development of Hinkley Point C.
“Somerset is at the forefront of the UK’s new generation of nuclear development and the proposed Hinkley Point C nuclear power station is an extremely important opportunity for our County.
“We are doing all we can to maximise the many opportunities that this development will bring to the area, while minimising any impacts. Whilst the final investment decision has yet to be announced by EDF, all the necessary stages are being addressed one by one”.
Mr Hall said that he is delighted that this latest announcement will provide a significant boost to business confidence throughout the County.
The proposed development could eventually generate 7% of the nation’s energy needs over the next 60 years as well as provide major benefits for Somerset, including 25,000 jobs over the construction period.
During the peak construction £100million per year will be put into the regional economy and over the life time of the project around £2billion will be put in to the region.
Hinkley Point C will require 900 permanent workers when it is operational creating around 400 new apprenticeships.
This announcement helps to clear the path towards a final investment decision for the project.
The EDF Group announced the intent of two Chinese companies, CGN and CNNC, to invest in Hinkley Point C as minority shareholders and the UK Government and EDF are engaged in talks with other Chinese businesses and influential investors to help secure the future of this major project.
For more information about Hinkley Point and the proposed developments visit www.somerset.gov.uk/hinkley