'reviewing costs' for Hinkley C following reports of overruns
utility company EDF has told investors it is still reviewing the
costs and schedule of its Hinkley Point C power plant near Burnham-On-Sea
following media reports that overruns are likely.
indicated in the 2016 annual financial report, a full review of
the costs and schedule of the Hinkley Point C project is in progress
following the financial investment decision and in accordance with
the project company's rule of governance," EDF said in a statement
company said the review should be completed "soon", and
it will disclose the information as soon as possible.
newspaper Le Mond reported over the weekend that Hinkley Point's
budget was set to overrun by up to £2.6bn because construction
could be delayed by two years.
followed a hard-hitting report by the UK's National Audit Office
(NAO) last week which condemned the planned nuclear power station
as a "risky and expensive project with uncertain strategic
and economic benefits."
government's spending watchdog found that ministers had not sufficiently
considered the costs and risks of the £18bn project to consumers,
and value-for-money tests showed the economic case was marginal
and subject to significant uncertainty.