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BUDGET 2011: EDF chief says new carbon floor price will help UK nuclear build

EDF Energy chief Vincent de Rivaz has said the new carbon floor price will help to encourage new nuclear build in the UK.

Responding to the Chancellor’s Budget announcement that a carbon floor price would be set from 2013, Mr de Rivaz said the move will “encourage investment in nuclear, renewable and carbon capture and storage”.

He said: “The Government has shown leadership and commitment to its vision for a low carbon Britain in today’s Budget with announcements on the carbon price floor, Green Investment Bank and Green Deal.

“It is important that the UK maintains momentum for investment in secure, low-carbon and affordable energy including nuclear, renewables and carbon capture and storage.

“Investment in low carbon energy will provide a massive boost to the UK economy, creating billions of pounds of business opportunities and thousands of jobs. This can play a big part in Government plans for recovery.”

Chancellor George Osborne announced that there would be a carbon floor price of £16 per tonne from 2013 rising to £30 per tonne in 2020.

Mr de Rivaz said: “For nuclear, helping to restore the carbon price to what was originally intended is important to encourage investment in existing plants and in new build.

“We currently invest about £300 million per year in the existing nuclear fleet to ensure it continues safely to provide the electricity Britain needs.

“With Centrica, we are proposing to invest about £20 billion in four new nuclear plants.  Our first new plant at Hinkley Point will create work for about 20,000 people on site over the construction phase, and support around 900 permanent jobs during operation.”

“On new build, it is important that the facilitative actions by Government also reflect this report while not subjecting our plans to any undue delay.”

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