Bloomberg Anywhere Remote Login Bloomberg Terminal Request a Demo


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

EDF Stalls on U.K. Nuclear Decision Citing Profitability Concern

May 30 (Bloomberg) -- Electricite de France SA, Europe’s biggest power generator, is holding off on a decision to build atomic plants in the U.K. until it’s sure they’ll be profitable, Chief Executive Officer Henri Proglio told shareholders today.

“We won’t go without the formal conviction that we can guarantee the profitability on your investment,” Proglio said at an annual meeting in Paris, where the utility is based. EDF maintains “strong interest” in pursuing the projects, he said.

A decision on building two new reactors at Hinkley Point in southern England has been delayed from the first quarter as EDF negotiates a guaranteed power price with the U.K. government. The utility is demanding at least 95 pounds ($144) a megawatt-hour for 40 years, while the government says it’s seeking value for money for consumers.

“Negotiations are ongoing in a good climate,” Proglio told reporters after the meeting. While the price remains to be agreed, “many things are resolved,” he said.

The reactors would be made by Areva SA and have a total capacity of 3,260 megawatts, enough to supply 5 million homes for 60 years.

To contact the reporter on this story: Tara Patel in Paris at

To contact the editor responsible for this story: Will Kennedy at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.