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EDF braces for a multi-billion euro rise in costs at its Hinkley Point C nuclear site

Telegraph 25th June 2017,EDF is bracing for a multi-billion euro rise in costs at its Hinkley Point C nuclear site after a fresh evaluation of the project revealed yet another
likely delay. An internal review of the troubled project by senior
executives at EDF’s French headquarters is expected to confirm fears that
the state-backed energy giant will not be able to deliver Hinkley on time
or in line with its £18bn budget.

The French newspaper Le Monde reported over the weekend that sources close to the review have said no one believes
it can be delivered by 2025. Instead, the start-up date is likely to be
2027 and pile a further £870m on to the construction costs of the £18bn
project. The review is being led by Jean-Michel Quilichini, the group’s
audit director, and is expected to be made public later this summer. The
latest delay is likely to fuel concerns that Government has locked energy
bill payers into “a high cost and risky deal” that could fail to deliver on
its economic promises.
http://www.telegraph.co.uk/business/2017/06/25/hinkley-nuclear-costs-climb-deadlines-slip/

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June 26, 2017 - Posted by | business and costs, France

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