British regulators have issued a critical license for two reactors proposed at Hinkley Point near Bristol.
The project still requires two further approvals from the British government, as well as design certification for Areva's EPR. All are expected before the end of the year. If the project moves forward, it will represent the first nuclear plant approved in the UK since 1987, the BBC reported Monday.
An EDF and Centrica joint venture called NNB Generation Co. plans to build the reactors at a new plant near two operating units at Hinkley Point that will be decommissioned in 2016, according to the World Nuclear Association.
The project also gained momentum last week following legislation allowing for higher electric rates to help fund non-carbon-emitting sources of power. On Thursday, the Guardian reported that an energy bill will allow significant rate increases in coming years to fund an estimated $176 billion in new power generation and grid upgrades by the end of the decade. Further details will be announced this week, and figures on the division of funding among renewable power sources will be worked out next year.