French energy specialist EDF is already raising the cost of Hinkley Point C, announcing that there's just the small matter of an extra £2.2bn being needed to build the new nuclear plant.
This lifts the total cost of the project to £20.3bn, and as well as this, it's running late already, even though all that's been done is some digging and a bit of concrete pouring and the putting in of a posh drain. An additional 15 months have now been added to the completion timescale, although EDF says it should still be able to hit the 2025 commission date.
EDF is paying for two-thirds of the project, with the other third being bankrolled by Chinese nuclear experts. The government says this latest cost increase is OK as the contractors are picking up the build costs, as well they might seeing as the plant's going to give them a glorious 35-year window in which they can charge us vastly more than the going wholesale rate for the power it generates. [Guardian]
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