Connection

popular articles

Brookfield finalises the acquisition of Neoen and becomes the majority shareholder
NANO Nuclear raises $18 million to develop micro-reactors
Norway could break its natural gas export record in 2024
BP Announces Closure of Its Kwinana Refinery in Australia and Shifts Focus Toward Clean Energy
Tanzania: $12.9 Billion to Strengthen Its Power Grid by 2030

Hinkley Point C: the cost of the new nuclear power plant is set to rise

EDF's new salvo of documents shows that the Hinkley Point C project will cost around 2% more than its previous budget estimate, meaning additional unbudgeted investment. The French government and its Chinese partner remain united in their commitment to complete construction of the British nuclear power plant, despite the considerable extra costs involved.

Please share:

EDF’s (EDF.PA) new UK nuclear power plant could cost around 2% more than expected, according to current documents. The price of the project has risen from the £25 to £26 billion (€31 to €32 billion) previously announced in May 2022 to £33 billion ($40 billion), after adjusting for inflation.

The construction of the power plant and the partnership between EDF and CGN

The UK government is currently considering the construction of new nuclear power plants to support its energy security and reduce net emissions to zero by 2050. EDF is building Hinkley Point C in partnership with its Chinese counterpart CGN, which holds a 33.5% stake in the project. With the additional costs, EDF may ask CGN for further investment, but there is a “high probability” that this will not happen and that EDF will have to take over.

The nationalization of EDF and the potential consequences for the Hinkley Point C project

EDF is in the process of being renationalized by the French government, which is of great importance for existing and future nuclear activities. Despite a record loss of 17.9 billion euros ($19.1 billion) announced this week, the French government remains committed to the company and the Hinkley Point C project. A planned start-up date is set for June 2027; however, further delays due to government-imposed shutdowns or the war in Ukraine could postpone the start-up by up to 15 months.

Register free of charge for uninterrupted access.

Publicite

Latest news

TerraForm Power settles $34.5mn lawsuit with former executive after nine-year litigation
The European Union must invest €1.871 trillion to modernise its power grids by 2050
Innergex secures two 32 MW solar projects in Yonne through CRE approval
Boralex commissions its first 106 MW wind farm in Scotland
MPs and energy experts call for suspension of France’s PPE3 energy roadmap

Recently published in

China launches financing search for innovative nuclear project

China National Nuclear Corporation mobilizes international investors and financial partners for a unique nuclear project combining two distinct technologies to simultaneously supply industrial heat and electricity, marking a new strategic step for China's energy industry.
Framatome and TechnicAtome acquire Segault to secure the French nuclear supply chain
Framatome and TechnicAtome have acquired Segault, a strategic nuclear valve manufacturer, thereby blocking a takeover by the American firm Flowserve following opposition from the French government.
en_1140290948540
Framatome and TechnicAtome acquire Segault to secure the French nuclear supply chain
Framatome and TechnicAtome have acquired Segault, a strategic nuclear valve manufacturer, thereby blocking a takeover by the American firm Flowserve following opposition from the French government.
en_1140290948540
Duke Energy extends Oconee nuclear plant’s operation through 2054
The United States Nuclear Regulatory Commission has approved a 20-year extension for the operating licences of Oconee Nuclear Station, reinforcing energy supply in the Carolinas amid growing regional demand.
en_1140290954540
Duke Energy extends Oconee nuclear plant’s operation through 2054
The United States Nuclear Regulatory Commission has approved a 20-year extension for the operating licences of Oconee Nuclear Station, reinforcing energy supply in the Carolinas amid growing regional demand.
en_1140290954540
Radioactive leak in Flamanville: EDF delays reactor restart by one month
A radioactive steam leak detected in the reactor building of Flamanville unit 1 forces EDF to postpone its restart by one month, according to the Nuclear Safety and Radiation Protection Authority.
en_1140290943540-24
Radioactive leak in Flamanville: EDF delays reactor restart by one month
A radioactive steam leak detected in the reactor building of Flamanville unit 1 forces EDF to postpone its restart by one month, according to the Nuclear Safety and Radiation Protection Authority.
en_1140290943540-24

Framatome to upgrade control systems at Switzerland’s Leibstadt nuclear power plant

French firm Framatome has been selected to modernise control systems at Switzerland’s Leibstadt nuclear plant, as part of a strategic investment aiming to extend its operation through 2045.
Washington allocates $900M to accelerate compact nuclear reactors
The U.S. Department of Energy reopens a $900M envelope to finance the construction of third-generation small modular reactors, aiming to rapidly expand national power capacity.
en_1140290951540-19
Washington allocates $900M to accelerate compact nuclear reactors
The U.S. Department of Energy reopens a $900M envelope to finance the construction of third-generation small modular reactors, aiming to rapidly expand national power capacity.
en_1140290951540-19
HYLENR and TakeMe2Space partner to test LENR module in space
HYLENR Technologies has signed a memorandum of understanding with TakeMe2Space to test a low-energy nuclear reaction power solution aboard satellites designed for orbital computing.
en_1140290957540-19
HYLENR and TakeMe2Space partner to test LENR module in space
HYLENR Technologies has signed a memorandum of understanding with TakeMe2Space to test a low-energy nuclear reaction power solution aboard satellites designed for orbital computing.
en_1140290957540-19
Japan develops first uranium-based rechargeable battery to repurpose depleted uranium
Japanese researchers have assembled a rechargeable battery harnessing the chemical properties of uranium, aiming to convert stored depleted uranium into a strategic energy storage resource.
en_1140290943540-22
Japan develops first uranium-based rechargeable battery to repurpose depleted uranium
Japanese researchers have assembled a rechargeable battery harnessing the chemical properties of uranium, aiming to convert stored depleted uranium into a strategic energy storage resource.
en_1140290943540-22

EDF and industrials urged to speed up electricity tariff negotiations

The French government is pressing EDF and industrial players to reach a pricing agreement by summer, amid ongoing tensions over nuclear supply contracts.
Oklo and Deep Atomic initiate regulatory steps in the US for small modular reactors
Two small modular reactor developers begin preliminary engagement with the US nuclear authority, ahead of filing applications for distinct projects targeting industrial use cases.
en_1140290944540-18
Oklo and Deep Atomic initiate regulatory steps in the US for small modular reactors
Two small modular reactor developers begin preliminary engagement with the US nuclear authority, ahead of filing applications for distinct projects targeting industrial use cases.
en_1140290944540-18
Fortum selects three suppliers for potential Nordic nuclear project
Fortum continues preparations for new nuclear capacity in Finland and Sweden, selecting three suppliers after a two-year feasibility study.
en_1140290943540-20
Fortum selects three suppliers for potential Nordic nuclear project
Fortum continues preparations for new nuclear capacity in Finland and Sweden, selecting three suppliers after a two-year feasibility study.
en_1140290943540-20
NRG-Pallas Selected to Test Fuel for Kairos Power’s Modular Reactor
NRG-Pallas will conduct irradiation tests necessary for qualifying materials and fuel of Kairos Power's modular reactor, a critical prerequisite for regulatory approval in the United States.
en_1140290946540-16
NRG-Pallas Selected to Test Fuel for Kairos Power’s Modular Reactor
NRG-Pallas will conduct irradiation tests necessary for qualifying materials and fuel of Kairos Power's modular reactor, a critical prerequisite for regulatory approval in the United States.
en_1140290946540-16

Fukushima: Tepco deploys robots to remove 41 tonnes of radioactive sand

Tokyo Electric Power Company will begin next week the removal of thousands of contaminated sandbags, stored since 2011 in the Fukushima Daiichi basements, using robots designed for high-radiation environments.
Rosatom completes welding of El Dabaa reactor, marking key industrial milestone for Egypt
Welding of the main reactor for Egypt’s El Dabaa nuclear power plant has been completed in Russia, marking a major milestone in the development of the country's first civilian nuclear programme.
en_1140290944540-17
Rosatom completes welding of El Dabaa reactor, marking key industrial milestone for Egypt
Welding of the main reactor for Egypt’s El Dabaa nuclear power plant has been completed in Russia, marking a major milestone in the development of the country's first civilian nuclear programme.
en_1140290944540-17
Kazakhstan creates a nuclear energy agency and appoints its president
Kazakh President Kassym-Jomart Tokayev has established a new agency to oversee nuclear energy, appointing Almassadam Satkaliyev as its head. This structure aims to enhance the country’s energy security and support its long-term nuclear ambitions.
en_1140290956540-14
Kazakhstan creates a nuclear energy agency and appoints its president
Kazakh President Kassym-Jomart Tokayev has established a new agency to oversee nuclear energy, appointing Almassadam Satkaliyev as its head. This structure aims to enhance the country’s energy security and support its long-term nuclear ambitions.
en_1140290956540-14
The US DOE grants $57 million loan to restart Palisades nuclear plant
The US Department of Energy allocated a $57 million loan to Holtec International to support the relaunch of the Palisades nuclear plant, which has been closed since 2022, to ensure compliance with NRC safety standards.
en_1140290954540-13
The US DOE grants $57 million loan to restart Palisades nuclear plant
The US Department of Energy allocated a $57 million loan to Holtec International to support the relaunch of the Palisades nuclear plant, which has been closed since 2022, to ensure compliance with NRC safety standards.
en_1140290954540-13

Orano and Navoiyuran sign agreement to develop South Djengeldi uranium deposit in Uzbekistan

Orano and Navoiyuran have signed a strategic agreement for the industrial development of the South Djengeldi uranium deposit in Uzbekistan, with the entry of Japanese company ITOCHU Corporation as a minority partner.
Japan begins dismantling its first nuclear reactor
Chubu Electric starts dismantling reactors at Hamaoka plant, marking a turning point in the management of its nuclear sector as Japan plans to gradually reintroduce nuclear energy into its energy mix.
en_1140290947540-13
Japan begins dismantling its first nuclear reactor
Chubu Electric starts dismantling reactors at Hamaoka plant, marking a turning point in the management of its nuclear sector as Japan plans to gradually reintroduce nuclear energy into its energy mix.
en_1140290947540-13
The French Government announces the delay of the commissioning of the EPR2 reactors to 2038
President Emmanuel Macron has announced an additional delay for the commissioning of the first EPR2 reactors, now set for 2038 instead of 2035. This decision was made during a meeting dedicated to the nuclear program.
en_1140290954540-12
The French Government announces the delay of the commissioning of the EPR2 reactors to 2038
President Emmanuel Macron has announced an additional delay for the commissioning of the first EPR2 reactors, now set for 2038 instead of 2035. This decision was made during a meeting dedicated to the nuclear program.
en_1140290954540-12
Engie Finalizes Extension of Doel-Tihange Reactors with Belgian State
Engie has finalized a ten-year extension agreement with the Belgian state for the Doel 4 and Tihange 3 nuclear reactors, including a financial responsibility transfer related to spent fuel, following recent approval by the European Commission.
en_1140290943540-13
Engie Finalizes Extension of Doel-Tihange Reactors with Belgian State
Engie has finalized a ten-year extension agreement with the Belgian state for the Doel 4 and Tihange 3 nuclear reactors, including a financial responsibility transfer related to spent fuel, following recent approval by the European Commission.
en_1140290943540-13

Emmanuel Macron to Chair Nuclear Policy Council Focused on SMRs and Uranium Supply

On Monday, President Emmanuel Macron will chair a Nuclear Policy Council focused on small modular reactors (SMRs) and uranium supply, within a global context of renewed interest in nuclear energy.
Major companies pledge to triple global nuclear capacity by 2050
A group of technology and energy companies, along with 31 countries, has signed a pledge to triple global nuclear capacity by 2050, supporting a strategic expansion of this energy source.
en_1140290948540-10
Major companies pledge to triple global nuclear capacity by 2050
A group of technology and energy companies, along with 31 countries, has signed a pledge to triple global nuclear capacity by 2050, supporting a strategic expansion of this energy source.
en_1140290948540-10
The IAEA Director-General strengthens nuclear cooperation with Niger
Rafael Mariano Grossi, IAEA Director-General, is visiting Niger to discuss nuclear cooperation. This visit comes at a time when the country, a major uranium producer, is experiencing internal political tensions.
en_1140290951540-10
The IAEA Director-General strengthens nuclear cooperation with Niger
Rafael Mariano Grossi, IAEA Director-General, is visiting Niger to discuss nuclear cooperation. This visit comes at a time when the country, a major uranium producer, is experiencing internal political tensions.
en_1140290951540-10
HD Hyundai and TerraPower sign an agreement to structure the industrialisation of Natrium reactors
HD Hyundai and TerraPower have entered into a strategic partnership to optimise the manufacturing of Natrium reactor components. This collaboration aims to structure an industrial supply chain to accelerate their global deployment.
en_1140290951540-9
HD Hyundai and TerraPower sign an agreement to structure the industrialisation of Natrium reactors
HD Hyundai and TerraPower have entered into a strategic partnership to optimise the manufacturing of Natrium reactor components. This collaboration aims to structure an industrial supply chain to accelerate their global deployment.
en_1140290951540-9

Advertising

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

VERVANT

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS