nuclear-news

The projected cost of new nuclear power has risen by fourfold since 2008 – and it is still rising

The projected cost of new nuclear power has risen by almost fourfold since
the UK Government made estimates in 2008, and the cost is still rising.

Nuclear analysts warn that the cost to consumers of funding Sizewell C
through the so-called ‘Regulatory Asset Base’ (RAB) model will be much
higher than has been projected by the Government.

In 2008 as the Government argued for more nuclear power stations to be built, the Government, in a
White Paper on nuclear costs, said that each 1.6 GWe EPR reactor would cost
around 2.8 billion. But the most recently released (by EDF) cost of the
Hinkley C EPR double reactor is £25.5 billion (in 2015 prices) and assumes
the plant will be completed by 2027.

This equates to £12.75 billion per
each 1.6 GWe reactor, as reported by World Nuclear News. This is nearly
four times the estimate made by the UK Government in 2008 after inflation
is taken into account.

100% Renewables 25th Nov 2022

November 25, 2022 - Posted by Christina Macpherson | business and costs, UK