PARIS (Reuters) – The construction of the two EPR nuclear reactors at the British Hinkley Point C power station is further delayed by at least two years and an additional cost of at least 5 billion pounds sterling (5.8 billion euros) due to pipe and cable assembly work taking longer than expected, EDF announced on Tuesday.
The French public electrician, whose British subsidiary EDF Energy is building the project, said in a press release that its total cost, in 2015 values, was reassessed in a range between 31 and 34 billion pounds, compared to 25 to 26 billion. during the previous review, in May 2022.
At the same time, the start of electricity production from Hinkley Point C (HPC) reactor no. 1 is now targeted for 2029, instead of June 2027 previously.
EDF, however, specified that, in its least favorable scenario, the bill could still increase by a billion pounds for a production start-up which would not take place until 2031.
The group mainly justifies the new delays and additional costs by the extension of the duration of the electromechanical assemblies, now estimated at 52 months in total instead of 28 months when the project was launched in 2015-2016.
While the construction site was slowed down by the Covid 19 crisis, EDF explains today that it did not have a sufficiently clear vision of the work to be carried out until the detailed design of the power plant was finalized. The group also cites the lack of plumbers and electricians.
EDF Energy owns 66.5% of HPC and the Chinese CGN owns the balance (33.5%). CGN, however, stopped financing the project after a deterioration in its relations with the United Kingdom, leading to additional contributions from EDF, which is seeking new partners. EDF estimates the amounts invested in HPC at around 4 billion pounds in 2023.
In 2016, when the final investment decision was made, the total cost of the HPC project was estimated at 18 billion pounds and its start-up was targeted for the end of 2025.
EDF, however, argues that the project has reached a series of important milestones in recent months, including the installation of the dome on the unit 1 reactor building, while 60% of the civil engineering work on the site has been completed. .
The group also indicates that 11,000 people are currently working on the site, which it now estimates to be in its most expensive phase.
(Reporting by Benjamin Mallet, editing by Zhifan Liu)
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