Paul Flynn – 2016 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Paul Flynn on 2016-02-02.

To ask Mr Chancellor of the Exchequer, if he will publish all agreements made to date with EDF energy over financing and borrowing arrangements for the proposed Hinkley C nuclear plant; and if he will ensure that agreements which relate to the differential financial arrangements depending on development of the Flamanville nuclear plant in France and the proposed Sizewell C plant are so published.

Greg Hands

The financing and borrowing arrangements for the proposed Hinkley Point C nuclear plant have not yet been signed. These arrangements are commercially sensitive and will not be published. However, the Chancellor did announce in September 2015 an initial guarantee of £2 billion of bonds which must be repaid by December 2020 by the shareholders of the project company. There is no further obligation to issue guarantees after that date.

It is the intention of DECC to publish the Contract for Difference following its signature, and this is the document that contains the reduction in the Hinkley Point C “Strike Price” from £92.50 to £89.50 – which is linked to a positive decision by EDF to proceed with Sizewell C.