Cost of UK’s flagship nuclear project blows out to more than $A92 billion | RenewEconomy

French-government owned EdF, whose former CEO had originally promised in 2007 that the Hinkley project would be “cooking Christmas turkeys” in England by 2017, at a cost of just £9 billion.

EdF has already had to be bailed out by its own government, and ultimately nationalised, because of the cost blowouts and the huge costs of buying replacement power when half its French nuclear fleet went offline in 2023.

The new start-up date is now for 2030, but more likely 2031 – and that is only for one of the two units!!

China’s CGN had to be brought in to fund one third of the Hinckley project, but is refusing to contribute more funds because China has been frozen out of other UK projects!!

while Hinkley’s construction costs are in the £42 to £48 billion range, its first 35 years of electricity at £87.50 or £92.50/MW in 2012 money, adjusted for inflation, will cost UK energy users a gargantuan £111 or £116 billion, or up to $A223 billion.

Story above is for those of us who are unable to keep track of huge blow outs, in cost and time, for latest nuke in UK. Please note that for construction cost of AUD92 B, they get only 1 of 2 proposed units rated at 1.6GW only 70% of output from Loy Yang.


— Read on reneweconom
y.com.au/cost-of-uks-flagship-nuclear-project-blows-out-to-more-than-a92-billion/amp/

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This is on behalf of local climate change group. Material is selected by Bernie McComb and does not necessarily represent opinion of whole group.
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