Brexit, HPC & state aid: mission Impossible? Tim Malloch returns with a post election update
- As the Hinkley Point C saga unfolds against the backdrop of Brexit will the Austrians audit the National Audit Office?
Following the recent UK general election the prospect of a softer Brexit has been revived. If the UK opted for the ‘Norwegian’ model and joined the EEA then
EU state aid rules may apply (‘A Chinese Takeaway’ (Pt 4)). The Commission has also said that the UK’s withdrawal from the EU would not deprive the European Court of Justice of its competence to adjudicate in proceedings pending on the withdrawal date.
NAO report
Last month the National Audit Office (NAO) published a report on Hinkley Point C (HPC) that described the project as ‘risky and expensive’ and suggested that the UK Government develops a Plan B (the NAO report). This month EDF announced a further cost overrun of £1.5bn for HPC, estimating project completion costs to be £19.6bn. The NAO report and EDF’s announcement are consistent with an earlier assessment of the HPC deal
