THE FIRM behind plans to build a new nuclear power station at Oldbury-on-Severn have welcomed a decision made by the European Commission.

Horizon Nuclear Power greeted the decision which will pave the way for EDF’s new nuclear power station at Hinkley Point C.

Following an inquiry and consultation by the commission into the terms of EDF’s Investment Contract with the UK government they ruled that the modified contract is compatible with European Union State Aid rules.

A separate inquiry will be undertaken if and when Horizon secures its own “Contract for Difference” with the government.

Alan Raymant, chief operating officer at Horizon said: “This ruling is a huge boost for the UK nuclear new build programme which demonstrates the robustness of the model the UK Government has put in place to bring forward low carbon investment and underlines the attractiveness of the UK market for new nuclear. As the next UK developer in line, we take great confidence from the decision.

“We look forward to working with all parties, including the UK Government, as we continue to make strong progress towards delivering new clean, secure and affordable electricity for the UK.”