EDF confirms it is pressuring UK ministers for 40 year subsidies.

Guardian: “The French-owned company is in talks with ministers over “contracts for difference” funding, under which the government guarantees generators will be paid a minimum price for electricity from new nuclear plants: if the market price falls lower than this “strike price” then a surcharge will be added to customers’ bills; if it rises higher there would be a refund.” “Pressure on ministers to get a deal with EDF was highlighted on Tuesday when Alistair Buchanan, head of the energy regulator, Ofgem, warned that UK customers face higher bills for years to come as gas imports rise to replace ageing power stations taken out of service. In an attack on previous policy, Buchanan said the situation had arisen because of “the car crash of a policy-driven vision of sustainability and the environment from 2004-08 – that needed massive sums of money backing nascent technologies – smashing into the financial crisis.”