The approval follows a thorough examination of the deal during a 12 month investigation by the EC.
The proposed agreements are for a long-term contract for the electricity generated at Hinkley Point C nuclear plant as well as for a guarantee for the project’s debt, the company said.
According to the Commission, the long-term contract and the guarantee include an appropriate and proportionate way for the UK to meet its need for secure, low carbon energy.
If the proposed power station at Sizewell goes ahead, the Hinkley Point C’s strike price will stand at £92.50/MWh or £89.50/MWh.
EDF chairman and CEO Henri Proglio said: "The approval by the European Commission is a major milestone for the Hinkley Point C project. Now EDF and partners have to finalise the agreements needed to reach a final investment decision.
"Building EPR reactors in the UK will provide huge benefits for both countries in terms of job opportunities, economic growth and skills, further strengthening France and United Kingdom fruitful partnership."
Expected to supply approximately 7% of the UK’s electricity needs, the Hinkley Point C will employ 25,000 people during construction.
The project will avoid around 9 million tons of CO2 emissions annually and will employ around 900 people during its 60 years of operation.
Confederation of British Industry (CBI) director-general John Cridland said: "Hinkley should set the ball rolling for the UK’s nuclear new build programme, putting us on the right path to achieving a secure and sustainable energy mix."
Image: Illustration of Hinkley Point C nuclear power plant. Photo: © EDF Energy 2014.
