12 May 16
Hinkley Point C

Clarification on the Hinkley Point C project

The cost of the project is £18bn in nominal terms. We have stated this in public many times and this has not changed.   This £18bn includes and has always included a provision for risks and contingencies. If we deliver the project for less, the gain will be shared with customers as part of the CFD gain share mechanism. Customers would not bear the cost of any overruns.   The total equity the two shareholders are committed to provide if necessary includes 15% of additional capacity amounting to £2.7bn.   This does not mean that we anticipate any additional costs beyond £18 bn. It simply reflects normal, prudent good practice for any construction project to know that the money would be available in the case of more extreme scenarios.   We don’t expect to use the additional 15% because we expect that Hinkley Point C will be on time and on budget at £18bn.
 

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For more information contact:

EDF Energy Media
Media Relations Team
01452 652233
media@edfenergy.com

EDF Energy

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EDF Energy’s safe and secure operation of its eight existing nuclear power stations at sites across the country makes it the UK’s largest generator of low carbon electricity. EDF Energy is also leading the UK's nuclear renaissance and has published plans to build four new nuclear plants, subject to the right investment framework.

These new plants could generate enough low carbon electricity for about 40% of Britain’s homes. They would make an important contribution to the UK’s future needs for clean, secure and affordable energy. The project is already creating business and job opportunities for British companies and workers.

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In 2014 EDF Energy received seven ‘Big Ticks’ in the Business in the Community (BITC) Responsible Business Awards. In 2013 EDF Energy received the Environmental Leadership for Behavioural Change Award in the national Environment and Energy Awards and was highly commended in the first ever pan European Corporate Social Responsibility Awards scheme for its Sustainable Schools programme – the Pod.

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