EDF nears deal to build two U.K. reactors for $22.4B

|By:, SA News Editor

Electricite de France (ECIFF.PK) is close to agreeing a deal with the British government for the French utility to construct and operate two nuclear reactors on the west coast of England at a cost of £14B ($22.4B).

The sides have reached the elusive "strike price," or the guaranteed price at which EDF would sell the electricity it generates.

The construction of the plant is a major test over whether nuclear power has a future in Europe.

Nuclear/uranium ETFs: NLR, NUCL, URA