On September 29, 2016, in London, the British government, EDF and CGN signed contracts definitively launching the project for two EPR reactors at Hinkley Point on England's west coast.
The 2013 commercial agreement set an electricity sale price of 92.5 pounds per megawatt-hour (MWh) over 35 years. This arrangement now includes conditions: the British government can prohibit EDF from selling its 66.5% majority stake in HPC during construction. After the plant becomes operational, London retains intervention rights over any potential sale of EDF's stake.
EDF CEO Jean-Bernard Lévy described the British decision positively, stating it "marks nuclear energy's revival in Europe." The project timeline planned for first concrete pouring in 2019, with the first reactor's operational start targeted for 2025.