EDF is bracing for a multi-billion euro rise in costs at its Hinkley Point C nuclear site after a fresh evaluation of the project revealed yet another likely delay. An internal review of the troubled project by senior executives at EDF’s French headquarters is expected to confirm fears that the state-backed energy giant will not be able to deliver Hinkley on time or in line with its £18bn budget. The French newspaper Le Monde reported over the weekend that sources close to the review have said no one believes it can be delivered by 2025. Instead, the start-up date is likely to be 2027 and pile a further £870m on to the construction costs of the £18bn project. The review is being led by Jean-Michel Quilichini, the group’s audit director, and is expected to be made public later this summer. The latest delay is likely to fuel concerns that Government has locked energy bill payers into “a high cost and risky deal” that could fail to deliver on its economic promises.
Telegraph 25th June 2017 read more »
EDF’s Hinkley C nuclear power plant will experience a budget overrun of between one billion and 3 billion euros as its construction could be delayed by two years, French newspaper Le Monde said on Saturday, citing sources close to the matter. Le Monde said that the first conclusions of an internal review of the project showed that construction initially slated for end-2025 was not likely to start before 2027.
New York Times 24th June 2017 read more »