Electricité de France reportedly near U.K. nuclear deal

|By:, SA News Editor

The U.K. government and Electricité de France (ECIFF.PK, ECIFY.PK) are nearing a £14B ($22.4B) deal that would see the French power giant build and operate a pair of nuclear reactors at Hinkley Point on the west coast of England, WSJ reports.

Negotiations have dragged out over the issue of the strike price - the guaranteed price at which EDF would sell the electricity generated by the new nuclear plant - but sources say an agreement is near.

The project is seen as a litmus test over whether the nuclear industry has a future in Europe at a time of lower gas prices and sluggish economic growth.