ELECTRICITY GENERATION
Hinkley nuclear cost climbs higher
Estimated completion cost for the Hinkley Point C reactors in southwest England is now £19.6bn, up from £18bn last September
Paris — Electricite de France (EDF) said the final bill for building two new reactors in the UK could rise to more than £20bn, reflecting changes to supplier contracts and plant design, and potential construction delays. The estimated completion cost for the Hinkley Point C reactors in southwest England is now £19.6bn, up from £18bn last September, the Paris-based company said on Monday in a statement. A slippage in schedule could add a further £700m. "We’ve been able to finalise contracts with some suppliers only after the final investment decision was made" in 2016, Vincent de Rivaz, the head of EDF’s UK subsidiary, said on a conference call. "As we entered the detailed design phase, several adjustments that are specific to the UK and to the regulators’ request have emerged." The review — just 10 months after EDF signed its contract with the British government — not only cuts the expected rate of return but raises concern that costs could climb further amid doubts over EDF’s abili...
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