nuclear-news

Yet another £6 billion cost hike for UK’s Hinkley Point C nuclear project

Hinkley C’s £6bn cost hike tests UK’s nuclear resolve. A further £6 billion
cost increase at Hinkley Point C will test the government’s commitment to
funding future large-scale nuclear projects, according to energy industry
experts.

The figure was revealed alongside EDF’s accounts last week, with
construction of the 3.2GW power plant now estimated to cost as much as
£32.7 billion. That is a £6 billion increase on the revised construction
price set last year and is almost double the £18 billion figure set in 2016
when EDF first started work on the project.

The latest cost hike has been
attributed to rising inflation, however engineering problems and complex
ground conditions have previously pushed the cost up, as well as a £500
million cost increase due to Covid-19 and pandemic-related working
restrictions.

Utility Week 21st Feb 2023
https://utilityweek.co.uk/hinkley-cs-6bn-cost-hike-tests-uks-nuclear-resolve/

February 22, 2023 - Posted by Christina Macpherson | business and costs, politics, UK