Hinkley Point C nuclear plant to run £2.9bn over budget. French power company EDF said the new nuclear plant it is building at Hinkley Point C will cost up to £2.9bn more than thought. It raised its estimate for the project, in Somerset, to between £21.5bn and £22.5bn, blaming “challenging ground conditions”. It also said the risk of the project being 15 months late had risen. In common with many very large construction projects, the power plant is dogged by rising costs and delays. It last raised its estimate for the project in 2017, by £1.5bn. “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, which has been adapted for a first-of-a-kind application in the UK context,” the company said in a statement.
BBC 25th Sept 2019 read more »
EDF warned Wednesday that its construction site for two EPR nuclear reactors at Hinkley Point C in England is expected to cost more than expected while the risk of slippage in the calendar has “increased”. The costs “are now estimated at between 21.5 and 22.5 billion pounds sterling”, an increase of between 1.9 and 2.9 billion pounds sterling (2.15 billion to 3.3 billion euros today). ) compared to previous assessments, said the French electrician in a statement. EDF had already mentioned a “risk of postponement of delivery” of 15 and 9 months respectively for the two reactors. This risk “has increased,” says the group, which has the objective of starting the production of electricity on the reactor No. 1 in late 2025. “The additional costs are mainly due to difficult ground conditions, making the earthworks more costly than expected, the revision of the objectives of the operational action plans, and additional costs related to the implementation of the functional design of a site. head of series adapted to the British regulatory context “, details the company. EDF is also building an EPR reactor in Flamanville (Manche) in France, which has experienced many delays and additional costs. On the other hand, the group launched two EPRs with its Chinese partners in Taishan, China.
Teller Report 25th Sept 2019 read more »
Reuters 25th Sept 2019 read more »