French-owned power company EDF in talks with Government about capping price of nuclear power it produces
French-owned power company EDF is in talks with the Government about capping the price of the nuclear power it produces.
Wholesale power prices are linked to the gas price, which has soared.
Price cap: EDF has indicated that it supported the idea of fixing prices ‘at more sustainable levels’
Ministers want to sever that link so that households benefit from cheaper energy sources such as nuclear and wind.
Matt Sykes, of EDF’s generation business, said: ‘EDF has entered negotiations to explore a voluntary pricing mechanism for the output from its nuclear fleet.’
Sykes said that if prices remain high, it expected to boost profits into 2023 and beyond.
However, the company indicated that it supported the idea of fixing prices ‘at more sustainable levels’.