European Court Rules in Favor of U.K. Support to EDF's Hinkley

The European Court of Justice, the region’s highest court, ruled Thursday in support of the U.K. government’s aid to help Electricite de France SA build Britain’s first new nuclear plant in decades. The U.K. government agreed to pay EDF much more than the current wholesale rate for electricity produced from the station once it’s up and running, a subsidy that was approved under Europe’s state aid rules. Austria, which filed a court challenge to overturn the European Commission’s 2014 decision to back the U.K. measures, called the decision “regrettable” and will consider appealing the decision.