nuclear-news

UK’s nuclear plant will cost nearly three times what was estimated

Australian Financial Review Tom McIlroy, Political correspondent, Jun 20, 2024 

Recent overseas experience suggests an Australian nuclear energy program
would be vulnerable to delays and cost blowouts – the construction of
Britain’s latest plant is years behind schedule and modular technology is
still not commercially viable.

Opposition Leader Peter Dutton will not say
how much his plan to build seven nuclear power stations by 2050 will cost,
but promised on Thursday to release the numbers before the election.

Britain’s Hinkley C generator in Somerset is on track to cost about three
times its original budget. It was initially due to be operational in 2017
and to cost about $35 billion, but it is now not expected to open before
2031 and will cost about $90 billion. The blowout has been blamed on
inflation, the COVID-19 pandemic and Brexit. The first new reactors in
decades, built from scratch in the United States, also suffered lengthy
delays and budget upheavals.

Australian Financial Review 20th June 2024

  https://www.afr.com/politics/federal/uk-s-nuclear-plant-will-cost-nearly-three-times-what-was-estimated-20240620-p5jna1

June 22, 2024 - Posted by Christina Macpherson | business and costs, UK