THE £16billion project to build a new nuclear power station at Hinkley Point has hit another delay.

EDF Energy, the French energy company behind the Hinkley Point C nuclear project, has admitted that it will not meet its March, 2015, deadline to sign off on the funding and investment arrangements for the massive build.

The setback came as it was announced that EDF’s UK profits were down by 25% due to closures last year at two of its stations – in Hartlepool and Morecambe – for boiler inspections.

EDF said “progress is being made” and a final investment decision is “possible in the next few months.”

A spokesman said: “EDF and the UK Government are working hard to finalise all agreements on Hinkley Point C and are making significant progress in all areas with the shared objective of finalising documents in the coming weeks.

“This will allow a final investment decision to be possible in the next few months.

“EDF is also making progress in discussions with future investment partners in the project.

“In particular, progress is being made with Chinese partners on all aspects of their nuclear industrial co-operation in the UK – part of the wider partnership between EDF and Chinese companies.”

The deadline for securing the deal with financial backers for Hinkley C had already been pushed back from the original one of the middle of 2014.

Steve Leahy, chairman of Bridgwater’s Chamber of Commerce, told the Mercury he was disappointed that Hinkley C had not moved forward yet, but he was confident that it was a matter of when, not if, the project happens.

He said: “I think it will happen and I’m sure that the town’s traders, along with the Chamber of Commerce, really want it to happen, and we’re disappointed that it has not happened yet.

“We’ve invested a lot and we’re now ready for this to start moving.

“When we eventually hear that it’s definitely going ahead I think a lot of people will come out of the woodwork and Bridgwater will boom quite rapidly.”

Bridgwater MP Ian Liddell-Grainger said he was not worried about the delays.

He told the Mercury: “The delays shouldn’t be a problem as we’ve already received funding from them.

“I’m not worried about this at all.”

A spokesman for Somerset County Council said: “We’re working with EDF and our partners to ensure that we do all that we can to maximise the opportunities the construction of Hinkley Point C will bring to the county.

“We’ll continue to press the Government and EDF to resolve the outstanding matters as quickly as possible.”