Hinkley Point C, the nuclear power station being built in Somerset, could now cost more than £30bn to complete due to inflation, it has been announced.
Last year the plant’s developer, French energy giant EDF, revised its estimate for finishing the facility near Bridgwater up by £3bn to between £25bn and £26bn, following a review of the project.
In a presentation of its annual results, the utilities firm told investors that while “the real cost remains unchanged” for one of Europe’s largest construction projects, “the estimated nominal cost at completion could reach £32.7bn”. This was based on inflation indexes as of 30 June 2022, amid rising costs for materials and labour.
