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Hinkley delayed….again…best get used to hearing that!

daryan12's avatardaryanenergyblog

FACADE DES IMMEUBLES DECATHLON ET EDF Figure 1: EDF HQ, where trouble is brewing!

The government’s policy regarding nuclear energy is at risk of unravelling. The final okay for Hinkley C has now been delayed by EDF energy. Despite the masses of money thrown at them by the government, EDF are hesitant because it represents a massive financial risk. Many of the company’s leading creditors, workers and shareholders have urged them to pull out of the deal, pointing to the similar train wreck in Finland. That project is now nine years late and at least three times over its original budget.

Hinkley C has already been delayed multiple times (a 2025 startup is now seen as optimistic, 2030 is more likely) and already the budget has ballooned to £24.5 billion. Indeed, the recent delay is largely because EDF simply doesn’t have the cash reserves to finance the project and is having to scramble…

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February 2, 2016 - Posted by | Uncategorized

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