this post was submitted on 26 Feb 2024
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This is the best summary I could come up with:
The owner of Hinkley Point C has blamed inflation, Covid and Brexit as it announced the nuclear power plant project could be delayed by a further four years, and cost £2.3bn more.
In 2007, the then EDF chief executive Vincent de Rivaz said that by Christmas in 2017, turkeys would be cooked using electricity generated from atomic power at Hinkley.
It is important to say that British consumers or taxpayers won’t pay a penny, with the increased costs met entirely by shareholders.”
In December it emerged EDF’s partner in the project, China General Nuclear, had halted funding for Hinkley.
The move came after the government took over CGN’s stake in Hinkley’s proposed sister site, Sizewell C in Suffolk, stripping the Chinese state-owned company of its role in the project.
The latest financial estimates are based on accounting in 2015 figures, meaning the total cost of the project could be far higher when inflation over the last decade is factored in.
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