Labour’s Barry Gardiner MP, Shadow Secretary of State for International Trade, Energy & Climate Change and Europe, commenting on the Secretary of State for BEIS, Greg Clark MP’s comments that the review into Hinkley is about the ‘contract for difference’ said:

“In what appeared to be a carefully scripted exchange with John Whittingdale MP the Secretary of State 'let slip’ that the Hinkley review is about the contract for difference - (the price guaranteed to EDF).

“Two years ago I said the strike price was too high and urged the government to renegotiate. I have also suggested the need for a taper to penalise any further delay to this critical piece of energy infrastructure.

“If the Secretary of State has now managed to reduce the cost to British bill payers in line with my suggestions, I promise not to gloat. I will simply say - well done for sticking up for the consumer.

“But in return the Government must stop the dithering. Their delay has put at risk £18billion of investment and jeopardised 25,000 skilled jobs in the nuclear industry, which are essential for the UK’s balanced energy portfolio.

“It is now time for the Secretary of State to restore investor confidence, announce that Hinkley is going ahead and tell EDF to get on with the job.“

Ends

Notes to editors

Labour has called for a root and branch review into Hinkley, including the strike price, as well as urging a taper to be introduced to the price, such that it is lowered for every year past 2025 that the project comes online.

Greg Clark made the comment in an answer to John Whittingdale MP, at BEIS oral questions on Tuesday 13th September. The full text is below and can be found on Hansard here.

Mr John Whittingdale (Maldon) (Con)
Notwithstanding his earlier remarks, will my right hon. Friend confirm that, as well as the proposed nuclear power station at Hinkley Point C, the other part of the package, which is a new Chinese-designed station at Bradwell-on-Sea, remains very much on the table?

Greg Clark
The decision with Hinkley Point C is on the particular contract for difference. That is what we are reviewing, and we will take the decision when that review has been completed.