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France's EDF raises cost estimates for Hinkley Point

03 Juillet 2017

The Hinkley Point new nuclear plant is at least £1.5 billion over budget and could be 15 months late, pushing cost overruns to £2.2 billion, EDF has admitted.

"Project completion costs are now estimated at £19.6 billion in 2015 sterling, an increase of £1.5 billion in 2015 sterling, compared to previous evaluations".

"The estimated additional costs result mainly from a better understanding of the design adapted to the requirements of the British regulators, the volume and sequencing of work on site and the gradual implementation of supplier contracts".

Londonderry security alert a 'hoax'
Some homes were evacuated the Glengalliagh Park area of the city on Sunday evening after the suspicious object was found. SDLP councillor Brian Tierney told the BBC that bomb disposal officers are carrying out assessments.

In 2007 Vincent de Rivaz, the chief executive, said he hoped the new Hinkley Point reactors would provide electricity for Britons to cook their Christmas turkeys in 2017.

France's state-controlled energy firm is funding two-thirds of the project, which is expected to create more than 25,000 jobs, with China investing the rest.

Last month the National Audit Office called it "a risky and expensive project".

France's EDF raises cost estimates for Hinkley Point