Bristol business leaders welcomed the government’s historic decision to go ahead with the £18bn Hinkley Point C nuclear power station, saying it will create a huge economic boost for the West of England and lead to thousands of new jobs.
Business West, the region’s largest business organisation which last month threw down the gauntlet to the government delays to the project, called the go-ahead a “tremendous decision for the region and the country as a whole”. 
Managing director Phil Smith of Business West, which runs Bristol Chamber of Commerce and also operates the Industry Network for Nuclear South West, added: “We are delighted that the government has heeded our calls to make a decision quickly and the outcome is the right one. The country needs new, stable, energy production and nuclear power should be part of an energy mix that also includes other low carbon solutions.
“This will be a great boost for businesses in the region, whether they are in the nuclear supply chain or not. There will be opportunities to join the industry by winning work on Hinkley Point C, and even businesses that aren’t related will see positive knock-on effects from the increased investment.
“Through our work with Nuclear South West, and our partnership with the Somerset Energy Innovation Centre, we have been supporting businesses that want to take advantage of the opportunities Hinkley Point C will provide.
“Although large scale infrastructure programmes are always difficult to get off the ground, businesses will be looking to Theresa May and Greg Clark to take more big decisions on critical projects like railways and broadband schemes which are vital to the success of their industrial strategy.”
In a strongly worded statement last month Mr Smith had said any further delay would be a blow to the regional economy precisely at a time, following the EU referendum result, when it needed stability.
Chair of the West of England Local Enterprise Parrtnership (LEP) Stephen Robertson – who is also a partner in Nuclear South West – added: “This is tremendous news for jobs and skills- the £18bn investment is set to create 25,000 new jobs and consolidate our position as the UK’s leading area for the nuclear sector.
“We have been working with local partners to gear up the supply chain to maximise opportunities for as many people and business as possible.
“Hinkley Point C marks only the beginning of a rolling programme of investment in nuclear power in the South West, this includes Oldbury, South Gloucestershire, once again showing that the West of England really is the home of knowledge, innovation and quality of life.”
Invest Bristol & Bath head of inward investment Matthew Cross said the announcement shone a spotlight on the strength of Bristol & Bath’s expertise in nuclear technology.
“The region already employs over 170 companies in the sector employing in excess of 27,000 people,” he said.
“As three of the four nuclear developers are already based in the region, we are already a centre of nuclear excellence. Even without Hinkley C, the region has the potential to benefit from up to £30bn worth of investment over the next 20 years.
“However, Hinkley C will reinforce this opportunity and will add an additional £18bn worth of investment potential.”
Institute of Directors regional chair Nick Sturge said: “There will be a significant boost to employment and indirect infrastructure investment – such as in skills training facilities – and we welcome this.
“We also look forward to helping our members and other businesses in managing the growth that this opportunity provides.
“Last week we took 30 of our members to the current Hinkley C construction site to see the work being done to prepare the site and members were very interested in the scale, complexity and careful environmental management that EDF and its contractors are working with.”
CBI deputy director-general Josh Hardie said: “The final green light for Hinkley Point is good news for the UK’s energy future as well as supporting jobs and growth across the South West and the country.
“New nuclear energy will play an important role in supporting a diverse, low-carbon and secure energy supply, so it’s now time to push on with this key project.”
Trade unions also welcomed the decision. Unite national officer for energy Kevin Coyne said: “Our members are shovel ready and dead keen to start work on the country’s first nuclear power station for a generation.
“It means that the lights will remain on in the UK in the decades ahead and it heralds an economic renaissance for the West Country, with the accompanying creation of thousands of skilled jobs and the positive ripple effects to the supply chain across the UK.”
Political reaction was mostly positive. South West Conservative MEP Julie Girling said it was right that Theresa May, as a new Prime Minister, should want to satisfy herself over the cost and security matters involved in the huge investment from China.
“But I am delighted the result is a green light. As someone who works closely on environmental issues I am convinced that nuclear has to play a key part in a clean, green power mix,” she said.
“When the scheme goes ahead it will mean a major boost for jobs and the economy of our region for many years to come.”
However, the decision to build the new plant has been slammed by environmental groups, the Green Party and renewable energy firms.
Critics of the deal have also warned of escalating costs and the implications of nuclear power plants being built in the UK by foreign governments. The new plant is being financed by the French and the Chinese.
France’s EDF is funding two-thirds of the project, with China investing the remaining £6bn.
There was also criticism of the way the government had handled the decision.
David Elmes, head of the Global Energy Research Network at Warwick Business School with 20 years’ experience working in the energy and management consulting industries, said: “This is what being painted into a corner feels like.
“After a surprise delay, the UKgovernment’s confirmation of the deal to build a new nuclear power station at Hinkley Point locks UK bill payers into an expensive source of energy for decades to come.
“The UK’s climate change commitments make it tough to provide electricity reliably at low emissions, but this deal was started a decade ago when we hoped the companies involved could deliver it on time and at a reasonable cost. The price UK bill payers are committing to through the government is now double and the start date has slipped at least eight years.
“The choices the UK has for the supply and use of energy have changed considerably since this deal was first conceived.
“The ability of governments, companies and financiers to commit to such huge projects has also faded. While those involved will be hugely relieved; we need a serious discussion of cost effective opportunities that offer as much or a greater contribution to the UK economy so we’re not boxed in to such a decision again.”
“When the scheme goes ahead it will mean a major boost for jobs and the economy of our region for many years to come.”
