A PYMNTS Company

UK: EU review of nuclear plant price-fixing expected by builders

By  |  December 3, 2013

The company planning the construction of UK-based nuclear power station Hinkley C told reporters it expected a review of the deal by the European Commission under competition regulation.

The company, EDF, responded to reports that the Commission is planning an investigation of the matter with comments that such a review is normal and expected, but that the review is not a major obstacle for the plant’s construction.

The construction plans were forged in November when UK Prime Minister David Cameron visited the future plant’s site in Somerset; a deal was made with EDF and the government to fix prices of energy produced by the new plant.

While that price setting agreement is now under watch by EU authorities, EDF says it is not overly concerned with the news.

Full Content: BBC

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.