EDF has reignited fears over its troubled new nuclear project at Hinkley Point C after admitting it will cost the French energy giant over £20bn and could be delayed by almost two years to 2027.
An internal review of the project by senior executives at EDF confirmed fears that the state-backed group will not be able to deliver Hinkley in line with the protracted timeline or its multi-billion pound budget.
It revealed that the cost of building the UK’s first new nuclear plant in a generation had climbed by £1.5bn in two years to £19.6bn after a string of delays to the project. A further delay of fifteen months could add a further £700m to the spiralling costs to push them over £20bn.
The real problem with this being not actually the cost of this one plant. It’s that it’s so damn expensive that it gives every other barking mad idea – Swansea Barrage, we’re lookin’ at you – the ability to say “But we’re only a little more expensive than Hinkley Point.”