EDF announce Hinkley C will now cost a further 1.5bns
If it weren’t for the fact that our children and their children will be the ones who end up paying for this folly, the ongoing debacle that is Hinkley C would be funny.
Beset by delays, safety fears and never ending bungs to its French owners and Chinese funders, EDF (said French owners) have just casually mentioned that the plant will now cost £1.5bns more (to take the project costs to the cusp of £20bns) and be delivered 15 months later than planned.
The first kWh of electricity is still eight years away so there is plenty more time for further cost increases and delays. By the time this pointless project is actually generating actual electricity, the need for it will have vanished. Britain will be generating so much electricity from wind and solar, and having the means to store excess in batteries in homes and businesses that Hinkley will be superfluous. We aren’t sure if the UK is on the hook to pay the guaranteed 38p/unit if there is no demand for the electricity at that price but we expect that it probably will be .
You can read this latest chapter in this sorry tale of government ineptitude here.