The U.K.'s green light to construct a nuclear power plant at Hinkley Point has positive repercussions industry wide, according to one expert.
The move is "definitely very good news for the whole nuclear industry," said Kirill Komarov, first deputy CEO of Rosatom, the Russian state nuclear energy company. Komarov was pleased that the British government was ready to support both the development of nuclear energy and its scheme to fix prices long term.
The joint project, financed by France and China, has proved controversial in some quarters. Critics have raised concerns over the fixed price of £92.50 ($121) per megawatt hour of electricity for 35 years once the plant begins functioning, as well as potential risks to the U.K.'s security, given that foreign firms will have a stake in crucial U.K. energy infrastructure.
Komarov expressed "slight concern" that the future price of electricity was higher than necessary. He said that nuclear energy is often blamed for high costs, which is bad for the industry's image.
When asked who the winners of the Hinkley Point deal were, Komarov acknowledged that this "depends how (the parties involved) structure these relations, not just in the process of financing but in the process of construction."
"China, I have no doubt, is interested not just to finance the story, but to construct significant parts of equipment on the territory of China and supply it to the United Kingdom," he said.