Power company EDF says that the new nuclear plant it is building at Hinkley Point in the south of England will cost up to £2.9 billion more than thought.
It raised its estimate for the project to between £21.5bn and £22.5bn. It also said the risk of the project being 15 months late had risen. “This is clearly bad news for nuclear new build prospects in the UK, particularly in light of recent record low offshore wind prices,” said Investec analyst Martin Young.
Cheaper wind power
New wind power delivered by 2025 has recently been set at prices as low as £40 per megawatt hour. By comparison, power from Hinkley Point C is expected to cost £92.50 per megawatt hour.
PAWB have been calling for decades for the development of clean energy and welcome ‘Morlais’ and ‘Minesto’ projects off the coast of Anglesey. We are only sad that such positive developments have been delayed by the authorities being sidetracked for so long by the failed attempt at building a second nuclear power plant at Wylfa.