• 2 days Court rules DOE to implement Obama efficiency rules
  • 6 hours DOA to invest $6.5M in coal industry
  • 6 hours US to hold largest oil and gas lease sale in its history
  • 1 day Tillerson Seeks A Deal With Erdogan On Syria
  • 1 day White House considering steel and aluminum tariffs
  • 2 days Iraq Seeks $100 Bln to Rebuild Economy
  • 2 days Allegedly the Search For Aliens is Struggling Thanks to Cryptocurrency Mania
  • 4 hours New Rules to Phase Out Coal and Reduce Natural Gas in Canada
  • 2 days Amazon reaches $1.2 million settlement with EPA over illegal pesticide sales
  • 6 hours White House Not Even Close to Regulating Bitcoin Yet
  • 1 day U.S. Bancorp hit with $613M in penalties
  • 5 hours Experts said US losing ground to China on AI
  • 2 days Australia's solar power boom to double in a year
  • 2 days US intelligence warn against Chinese phones
  • 2 days Electric Buses to Reach Half of World Fleet by 2025
  • 2 days How Good Is Putin's Word?

Eight Years Late—UK Hinkley Point C To Be In Service By 2025

nuclear power plant

EDF Energy—the developer of the first new nuclear power plant in the UK in a generation, Hinkley Point C, is confident that it can put the first unit into service in 2025, EDF Energy chief executive Simone Rossi said on Wednesday, in what would be an eight-year delay compared to the first plans to have Hinkley Point up and running in 2017.

Back in 2007, EDF bosses predicted that UK households would be cooking their 2017 Christmas turkeys with power generated from Hinkley Point—a prediction that turned out to be a bit too ambitious.

Rather, in 2013, the then UK government approved the construction of Hinkley Point and agreed with the EDF on the commercial terms. In 2016, the new UK government led by Theresa May approved the final investment decision and signed a deal with EDF and China’s CGN for the plant.

In July last year, EDF said that the project completion costs were now estimated at US$27 billion (£19.6 billion), up by US$2 billion (£1.5 billion) compared to previous evaluations, due to designs adapted to meet UK regulatory standards. Back then, the company also warned that there was risk of deferral of delivery, estimated at 15 months for Unit 1 and 9 months for Unit 2, that would add additional cost of US$964 million (£700 million).

“Our goal is to put the first unit into service by the end of 2025,” EDF Energy’s Simone Rossi said today in his first public speech since he was appointed CEO in November 2017.

Related: China Looks To Create Supersized Coal Companies

“That said, like any major infrastructure project, we know we will face challenges and it is our job to deal with them. We will never compromise on safety and quality,” Rossi said, as carried by ITV.

The Hinkley Point project has come under criticism because of the fixed price of US$127.30 (£92.50) per MWh of electricity, which would be paid by UK consumers via their energy bills. With recent offshore wind prices in the UK nearly half that price—US$79, or £57.50 per MWh—more and more voices have been raised as to the viability of the nuclear plant and the unnecessary burden for consumers.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment
  • Bill Simpson on January 17 2018 said:
    I wonder how much LNG they could import for $27 billion, plus interest, or how many wind turbines and batteries they could build? That is the cost of 2 new US super aircraft carriers. It takes 6 years to build one of them.

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News