nuclear-news

UK’s flagship nuclear plant could cost up to $59 billion, developer says

A major nuclear plant that Britain’s government hopes will generate affordable, low-carbon energy could cost up to 46 billion pounds, or $59 billion, and the completion date could be delayed to after 2029

abc news, By SYLVIA HUI Associated Press, January 25, 2024

LONDON — A major nuclear plant that Britain’s government hopes will generate affordable, low-carbon energy could cost up to 46 billion pounds ($59 billion), and the completion date could be delayed to after 2029, the firm developing it said Wednesday.

The U.K. government says nuclear projects like the Hinkley Point C plant are a key part of its plans to ensure greater energy independence and achieve its “net zero” by 2050 strategy.

But a re-evaluation showed that the final bill for the plant, being built in Somerset in southwest England, could soar to up to 34 billion pounds in 2015 prices — or 43 billion pounds in current value, French energy giant EDF said………………………………….  https://abcnews.go.com/Business/wireStory/uks-flagship-nuclear-plant-cost-59-billion-developer-106635464

January 26, 2024 - Posted by Christina Macpherson | business and costs, politics, UK