Released May 31, 2022 | GALWAY, IRELAND
en
Written by Martin Lynch, European News
Editor for Industrial Info (Galway, Ireland)--The U.K.'s only new nuclear power project at Hinkley Point C is facing a further one-year delay and a cost bump of up to £3 billion (US$3.8 billion).
French energy major and project developer, Électricité de France (EDF) (Paris) has announced that first power for the project is now delayed until June 2027 and the project completion costs are estimated in the range of £25-26 billion (US$31.2-32.5 billion). In 2016, the original price was £18 billion (US$22.5 billion) with a 2025 start-up date, but the project had hit a number of problems over the years regarding delays and rising costs. Hinkley Point C is the U.K.'s first new nuclear project in more than 25 years and will be able to supply 7% of the country's electricity needs. Industrial Info is tracking the project which will use two European Pressurized Reactors (EPR) reactors with a combined generating capacity of 3,300 megawatts (MW). Last month, the U.K. government voiced ambitions to build up to eight new nuclear reactors as part of a sweeping energy strategy to strengthen its energy security in light of Russia's ongoing war in Ukraine. For additional information, see April 19, 2022, article - U.K. Wants Eight New Nuclear Power Reactors.
The government hopes to fast-track a two-reactor project for the Sizewell nuclear site in Suffolk. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can click here for the Hinkley project reports and here for the Sizewell reports.
"The start of electricity generation for Unit 1 is targeted for June 2027, the risk of further delay of the two units is assessed at 15 months, assuming the absence of a new pandemic wave and no additional effects of the war in Ukraine," EDF said in the latest update. "The project completion costs are now estimated in the range of £25 billion to £26 billion (at 2015 rates). Under the terms of the Contract for Difference, there is no impact for U.K. consumers. During more than two years of the COVID-19 pandemic, the project continued without stopping. This protected the integrity of the supply chain and allowed the completion of major milestones. However, people, resources and supply chain have been severely constrained and their efficiency has been restricted. In addition, the quantities of materials and engineering as well as the cost of such activities, including in particular marine works, have risen."
The next major milestone at Hinkley will be the lifting of the dome on Unit 1, forecast for the second quarter of 2023.
In related news, EDF is facing increased financial and technical issues with France's nuclear fleet, which comprises 56 reactors and supplies around 70% of the country's power. Stress corrosion issues noted at a growing number of reactor sites means that the company is facing an increased financial hit of 4.5 billion euro (US$4.7 million), up from the original estimate of 14 billion euro (US$15 billion) estimated earlier this month. Twelve reactors, currently shut down, are being inspected for stress corrosion.
"Results of the metallurgical tests carried out on samples taken from the pipes of the auxiliary circuits of the reactors of Civaux 1, Chooz 1 and Penly 1 confirmed the presence of stress corrosion near welds of the RIS (safety injection circuit) and RRA (shutdown reactor cooling circuit) circuits. Checks carried out on Chinon B3...showed evidence of stress corrosion located on a weld of the RRA circuit."
With the closures, EDF has been forced again to cut its estimated nuclear output for this year to 280-300 terawatt hours (TWh), compared with the previous estimate of 295-315-TWh.
Industrial Info Resources (IIR) is the world's leading provider of market intelligence across the upstream, midstream and downstream energy markets and all other major industrial markets. IIR's Global Market Intelligence Platform (GMI) supports our end-users across their core businesses, and helps them connect trends across multiple markets with access to real, qualified and validated project opportunities. Follow IIR on: LinkedIn.
French energy major and project developer, Électricité de France (EDF) (Paris) has announced that first power for the project is now delayed until June 2027 and the project completion costs are estimated in the range of £25-26 billion (US$31.2-32.5 billion). In 2016, the original price was £18 billion (US$22.5 billion) with a 2025 start-up date, but the project had hit a number of problems over the years regarding delays and rising costs. Hinkley Point C is the U.K.'s first new nuclear project in more than 25 years and will be able to supply 7% of the country's electricity needs. Industrial Info is tracking the project which will use two European Pressurized Reactors (EPR) reactors with a combined generating capacity of 3,300 megawatts (MW). Last month, the U.K. government voiced ambitions to build up to eight new nuclear reactors as part of a sweeping energy strategy to strengthen its energy security in light of Russia's ongoing war in Ukraine. For additional information, see April 19, 2022, article - U.K. Wants Eight New Nuclear Power Reactors.
The government hopes to fast-track a two-reactor project for the Sizewell nuclear site in Suffolk. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can click here for the Hinkley project reports and here for the Sizewell reports.
"The start of electricity generation for Unit 1 is targeted for June 2027, the risk of further delay of the two units is assessed at 15 months, assuming the absence of a new pandemic wave and no additional effects of the war in Ukraine," EDF said in the latest update. "The project completion costs are now estimated in the range of £25 billion to £26 billion (at 2015 rates). Under the terms of the Contract for Difference, there is no impact for U.K. consumers. During more than two years of the COVID-19 pandemic, the project continued without stopping. This protected the integrity of the supply chain and allowed the completion of major milestones. However, people, resources and supply chain have been severely constrained and their efficiency has been restricted. In addition, the quantities of materials and engineering as well as the cost of such activities, including in particular marine works, have risen."
The next major milestone at Hinkley will be the lifting of the dome on Unit 1, forecast for the second quarter of 2023.
In related news, EDF is facing increased financial and technical issues with France's nuclear fleet, which comprises 56 reactors and supplies around 70% of the country's power. Stress corrosion issues noted at a growing number of reactor sites means that the company is facing an increased financial hit of 4.5 billion euro (US$4.7 million), up from the original estimate of 14 billion euro (US$15 billion) estimated earlier this month. Twelve reactors, currently shut down, are being inspected for stress corrosion.
"Results of the metallurgical tests carried out on samples taken from the pipes of the auxiliary circuits of the reactors of Civaux 1, Chooz 1 and Penly 1 confirmed the presence of stress corrosion near welds of the RIS (safety injection circuit) and RRA (shutdown reactor cooling circuit) circuits. Checks carried out on Chinon B3...showed evidence of stress corrosion located on a weld of the RRA circuit."
With the closures, EDF has been forced again to cut its estimated nuclear output for this year to 280-300 terawatt hours (TWh), compared with the previous estimate of 295-315-TWh.
Industrial Info Resources (IIR) is the world's leading provider of market intelligence across the upstream, midstream and downstream energy markets and all other major industrial markets. IIR's Global Market Intelligence Platform (GMI) supports our end-users across their core businesses, and helps them connect trends across multiple markets with access to real, qualified and validated project opportunities. Follow IIR on: LinkedIn.
