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France's EDF raises cost estimates for Hinkley Point
July 3, 2017 / 7:06 AM / 5 months ago

France's EDF raises cost estimates for Hinkley Point

PARIS, July 3 (Reuters) - French state-owned power company EDF has raised its estimate for the costs involved with its Hinkley Point C power station in Britain, which has been beset with budget problems.

EDF said the costs estimated at completing the Hinkley project had increased by 1.5 billion pounds to stand at 19.6 billion pounds ($25.5 billion).

EDF added that the risk of a deferral in the delivery (COD) of the project was estimated at 15 months for Unit 1 at Hinkley and 9 months for Unit 2, which would entail an additional potential cost of around 0.7 billion pounds.

Hinkley Point C would be Britain’s first new nuclear plant in decades, but it has been plagued by delays and criticised over its guaranteed price for electricity, which is higher than current market prices.

$1 = 0.7691 pounds Reporting by Sudip Kar-Gupta

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