The NI Congress is taking place today and tomorrow in Manchester and today’s proceedings were dominated by the announcement that the UK Government and EDF have agreed a strike price for the Hinkley Point C development which also includes options for Sizewell C. The Strike Price is set at:
- £89.50/MWh if Sizewell C goes ahead. There will be a payment from Sizewell C to Hinkley Point C equivalent to £3/MWh upon the final investment decision being taken with respect to Sizewell C reflecting the fact that the first of a kind costs of EPR reactors are shared across the Hinkley Point C and Sizewell C sites.
- £92.50/MWh for HPC project if Sizewell C does not go ahead.
If wholesale prices rise above an agreed “strike price”, consumers will not pay extra. If they fall below this price the generator will receive a top-up payment. For further information go to