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EDF announces another delay and cost overruns to Hinkley Point C nuclear project

 French energy giant EDF has revealed it will have to announce new delays
and cost overruns for its Hinkley Point C nuclear plant project in the UK.
The latest setback follows conflict in Ukraine, supply chain disruption and
inflationary pressures.

EDF last updated its construction schedule in
January 2021, when it said the UK’s first new nuclear plant to be built
in decades would be delayed by six months to June 2026. It revealed costs
would rise by an additional £500m to £23bn.

Originally, the plant was
expected to open in 2025 and had a construction budget of £18bn. However,
like similar nuclear new-build projects in Flamanville, France and
Olkiluoto, Finland, it has been subject to repeated delays and spiralling
costs. In a note to its 2021 annual report, EDF arued risks to schedule and
cost at completion targets had increased. The energy firm cited the ongoing
impact of the pandemic, Brexit, lower-than-expected civil performance and
tensions in global building materials markets. 

22 Mar 22,

 City AM 28th March 2022

March 31, 2022 - Posted by | business and costs, UK

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