Point C cost will reach £37billion, confirms government
total lifetime cost of the proposed Hinkley Point C nuclear power
plant near Burnham-On-Sea could be as high as £37bn, according
to an assessment published by the government this week.
figure was described as 'shocking' by critics of the scheme, who
said it showed just how volatile and uncertain the project had
become, given that the same energy departments estimate
12 months earlier had been £14bn.
Thursday (July 7th), the Department of Energy and Climate Change
(DECC) confirmed the £37bn figure, but said it was provisional
and set in September 2015 when wholesale power prices were low,
and would not affect bill payers.
will generate enough low-carbon electricity to power six million
homes and around £10 [a year] from [each] consumers
bill will pay for it once it is up and running," a DECC spokesperson
have set the strike price to protect bill payers if energy costs
go up or down, so the cost of the project to consumers will not
report from the IPA (Infrastructure and Projects Authority) does
not suggest that the lifetime costs of Hinkley have increased.
It is a snapshot of the position at the end of September 2015."
said the £37bn figure should be disregarded. "Hinkley
Point C will generate reliable low-carbon electricity in the future,
so a cost estimate based on last years depressed wholesale
price is not relevant. HPCs electricity will be competitive
with other low-carbon energy options and consumers wont
pay a penny until the plant begins operating," said a spokesman.
experts said the extra money, if the cost did remain at £37bn,
would have to come from somewhere probably the taxpayer
or be removed from other DECC budgets available for different
whole-life cost of £37bn is a truly shocking figure. It
is an extraordinary ramp-up from last years figure, and
just underlines how hard it is to get a real handle on the long-term
cost of Hinkley," said Paul Dorfman, senior research fellow
at the Energy Institute, University College London.