UK’s flagship nuclear plant could cost up to $59 billion, developer says

By SYLVIA HUI
Associated Press

LONDON (AP) — A major nuclear plant that Britain’s government hopes will generate affordable, low-carbon energy could cost up to 46 billion pounds, or $59 billion, and the completion date could be delayed to after 2029. The U.K. government says nuclear projects like the Hinkley Point C plant is a key part of its plans to ensure greater energy independence and achieve its “net zero” by 2050 strategy. But French energy giant EDF said a re-evaluation showed that the final bill for the plant could soar to up to 34 billion pounds in 2015 prices, or 43 billion pounds in current value. EDF and the U.K. government have said the plant will become a major source of decarbonized electricity supply for the U.K.