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EDF’s new demand means that Hinkley Point C will be further delayed, with costs escalating to £34 billion.

 EDF have implicitly admitted that the construction of Hinkley C may take
at least 11 years to finish signalling cost overruns of 70 per cent or
more. Bloomberg reports that EDF is requesting the Government that EDF be
given another 15 months to complete the plant and be fully generating
beyond 2029.

Under the terms of EDF’s contract with the UK Government if
Hinkley C fails to generate power by 2029 it will start losing the amount
of subsidy it can claim. Adding 15 months to this as requested (under a
‘force majeure’ clause) will take us into 2030. Hinkley C construction
was begun seriously in early 2019, meaning a total construction period of
over 11 years.

The plant was supposed to be operating by the end of 2025
according the EDF’ earlier plans. Using the rule of thumb that
construction cost is directly proportional to the length of construction
time this would imply a 70% cost overrun. That could mean a cost rise, in
today’s prices from around the original £20 bn to £34 billion. However,
one should in no way assume this will be all the time that is needed.
Things may well get worse.

 100% Renewables 22nd July 2022

July 22, 2022 - Posted by | politics international, UK

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