EDF and the government are set to sign the contract for Hinkley Point C this week. The project is set to cost around £18 billion to complete.

EDF who are the commercial partner are going to sign the "contract for different" today. The agreement will govern the money that EDF will receive for the electricity produced by the nuclear power station. Hinkley Point C is set to be the UK's first new nuclear power station.

This is the second attempt of the contract signing, after new Prime Minister Teresa May initially delayed the process in July after she took over form David Cameron. The new Prime Minister delayed proceedings in July after she requested the project was reviewed - this delay lead to concerns over the UK's future relationship and openness to foreign investors . However The Prime Minister gave her go ahead two weeks ago to the signing, on the grounds that EDF could not sell its controlling stake before the project is completed. EDF approved the terms earlier this week which gave the green light to the contract signing. The signing of the contract is tipped to be confirmed this afternoon.

The major document in question for the signing is the "Contract of Difference" which will give a clear indication of what the amount of electricity that the Hinkley Point C power station will generate. Although EDF is the commercial partner, it's the Chinese company CGN that is financing the project, along with spearheading China's stake in the UK's nuclear industry. Along with paying a third of the overall cost of the power station, CGN will also get a stake in the Sizewell plant based in Suffolk. 

Author: Lauren Angell, Event Manager, CPT Events

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