Slaughter and May reaps £12m in fees for nuclear advice

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The UK Government paid Magic Circle firm Slaughter and May £12 million (about $20.23 million) for its advice on the Hinkley C nuclear power plant.
 
The amount is almost three times the fee paid to the second highest-paid consultant, big four outfit KPMG, according to data separately confirmed by the BBC and The Times after a Freedom of Information requests.
 
According to the publication, the Department for Business, Energy and Industrial Strategy paid the following amounts to the following four firms to advise the government between 2011 and 2016:
 
  • KPMG (accountancy) - £4,363,767 (about $7.36 million)
  • Slaughter and May (legal) - £12,038,989 (about $20.23 million)
  • Lazards (finance advice and asset management) - £2,583,131 (about $4.35 million)
  • Leigh Fisher (planning and technical advice) - £1,247,630 (about $2.1 million)
 
The nuclear power plant – to be built in a project that costs UK taxpayers £18 billion (about $30.35 billion) – has also produced mandates for other major law firms.
 
According to a report from Legal Week, Herbert Smith Freehills advised French energy firm EDF on planning application, Pinsent Masons advised local authorities on planning application, Eversheds advised China National Nuclear on its investment in the project, Ashurst advised China General Nuclear Power on the deal and Clifford Chance advised EDF on matters such as the China National Nuclear investment and European state aid approval.
 

Related stories:
Record number of London lawyers paid over £1m last year
Magic Circle firm launches FinTech program
 

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