Electricite de France SA (EDF.FR) and the U.K. government are expected to agree a "strike price" for electricity generated at Hinkley Point, the new nuclear power station the company plans to build, by the end of the year, the head of its U.K. subsidiary said, according to the Financial Times Thursday.

The strike price is the guaranteed price of electricity the government will pay for the power generated from the nuclear power station and is a key part of big U.K. reforms of the sector designed to encourage billions of dollars of investment to keep the lights on while meeting binding targets on emissions reductions.

EDF Energy's Chief Executive Vincent de Rivaz said a lot still needed to be done before the company can move ahead with the plans to build Britain 's first new nuclear power stations since 1995.

"It is not a done deal," Mr. de Rivaz told the Financial Times.

The company was expected to take a final investment decision on Hinkley Point by the end of this year, but this is likely to slip into 2013, the newspaper said.

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