Marc Hammerson Quoted in Wall Street Journal on Impact of Brexit Vote on Energy Investments
Akin Gump oil and gas partner Marc Hammerson was quoted in The Wall Street Journal article “France Tells EDF to Switch On U.K. Nuclear-Power Project Despite Brexit,” which discusses the fate of a $24 billion nuclear-power project in England that is waiting for final a final decision by its French contractor on whether to proceed.
While the project has already been delayed by several years over concerns about the costs and government support for it, the article states that the U.K. vote to leave the European Union is only making matters more complicated.
France’s Economy Minister, according to the article, says the French government supports the project and a final decision will likely come during the summer. Still, Hammerson said the Brexit vote could delay some energy investments. “In general, in any political and economic uncertainty, there’s the danger that investments could be delayed or canceled.”