EDF Energy Chief Executive Vincent de Rivaz has told MPs that the construction of the Hinkley Point C nuclear power station in Somerset will go ahead.

Giving evidence to the Energy & Climate Change Committee, de Rivaz said: “It will go ahead because we have the expertise, the supply chain ready, the team ready, including our longstanding partners CGN, to build Hinkley Point C on time and on budget.

“It will go ahead because we have the strong support of the UK Government and of the French Government.

“It will go ahead because we are confident regarding the financing of this project.”

Decision ‘very soon’

He said the financial investment decision will be taken “very soon” and blamed a 35% drop in wholesale market prices since October for the delay.

De Rivaz said discussions with the French government over the financing of EDF were in their “final stage”.

He also defended the £90/MWh price being guaranteed by the UK Government.

> Read de Rivaz's evidence