Costs Rise Again for U.K. Hinkley Point Nuclear Project
- Utility increases bill for Hinkley units, flags possible delay
- EDF also cuts estimated return from plant to as little as 7.6%
Construction work at Hinkley Point C nuclear power station near Bridgwater, U.K.
Photographer: Luke MacGregor/BloombergThis article is for subscribers only.
Electricite de France SA raised the estimated cost of two reactors it’s building in the U.K., making Britain’s nuclear ambitions look increasingly untenable as renewables become ever cheaper to develop.
EDF said the bill for the Hinkley Point C reactors could rise by as much as 2.9 billion pounds ($3.6 billion), and warned of a delay to their completion. The French utility -- not British consumers -- will swallow that extra cost, but the increase raises questions about whether other nuclear power plants planned in the country will be affordable.