EDF Expects Delay, Higher Costs for Hinkley Point C Project Due to Covid-19
By Olivia Bugault
Electricite de France SA released on Wednesday an updated
schedule and cost estimates for the Hinkley Point C nuclear power
station that takes into account the impact of the coronavirus
pandemic so far.
Hinkley Point C should start generating electricity from its
unit 1 in June 2026, compared with an initial announcement of the
end of 2025, the French utility company said.
The costs to complete the project should now come in between 22
billion pounds and 23 billion pounds ($30.22 billion-$31.59
billion), compared with a previous estimate of between GBP21.5
billion and GBP22.5 billion, it said.
"As a consequence, the projected rate of return for EDF is
estimated between 7.1% and 7.2%," the company said.
EDF specifies that the updated details for the project are based
on the assumption that it will be possible to begin a ramp up back
to normal site conditions from the second quarter of 2021.
Write to Olivia Bugault at email@example.com
(END) Dow Jones Newswires
January 27, 2021 02:42 ET (07:42 GMT)
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