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EDF says Hinkley Point C construction may be late and overshoot budget by £3 billion
- 5 years ago (2019-09-27)
- David Flin
EDF has warned that the cost of building Hinkley Point C could cost up to £2.9 billion more than expected, and that the chance of a delay to the project has also increased. It said that the new price for Hinkley Point C is estimated at between £21.5 billion and £22.5 billion, up from the previous estimate of £19.6 billion, itself an increase from the initial cost estimate of £12.4 billion. EDF said that the risk of a delay of 15 and 9 months for units one and two respectively has significantly increased.
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The company said in a statement: “Cost increases reflect challenging ground conditions which made earthworks more expensive than anticipated, revised action plan targets, and extra costs needed to implement the completed functional design.” However, EDF stressed that under its terms with the UK Government – which has locked the price of electricity from Hinkley at £92.50 per MWh – the rise will not impact consumers.
The project is currently scheduled to start generating electricity in 2025.