EDF delays Hinkley Point nuclear plant start date, hikes cost estimate

EDF delays Hinkley Point nuclear plant start date, hikes cost estimate (OTCMKTS:ECIFF)

May 20, 2022 by Seeking Alpha

Key Facts

  • olrat/iStock Editorial via Getty Images Electricite de France (OTCPK:ECIFF) said late Thursday that it has delayed the start date of the Hinkley Point C nuclear plant in the U.K. by more than a year to 2027 and raised its estimated project costs by £3B (~$3.74B) to £25B-£26B.
  • EDF (OTCPK:ECIFF) previously updated its Hinkley Point construction schedule in January 2021, when it said the plant would be postponed by six months to June 2026 with the cost totaling £22B-£23B.
  • "The risk of further delay of the two units is assessed at 15 months, assuming the absence of a new pandemic wave and no additional effects of the war in Ukraine," EDF said.
  • "In addition, the quantities of materials and engineering as well as the cost of such activities, including in particular marine works, have risen."

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