EDF boss says UK taxpayer will not pay for Hinkley overrun

The chief executive of EDF Energy, the company building the UK’s first nuclear power plant in a generation says the British taxpayer will not be footing the bill for unforeseen rises in the cost of building the plant.

Vincent de Rivaz’s statement that taxpayers will ‘categorically not’ have to pay for the type of costs associated with delays the company is involved in other jurisdictions, is at odds with a leaked government report earlier this week.
Vincent de Rivaz
The Guardian reported last week that a leaked document stated citizens would have to foot the bill for nuclear waste storage costs after the facility was built.

The company has presided over disastrous delays and overruns in France and Finland at Flamanville and Olkiluoto 3 respectively.
Olkiluoto 3 is a particularly difficult development. IThe 1600 MW plant was expected to cost $3.3bn (€3bn) and come online in 2009. 11 years after construction began it has still not been completed. The estimated cost has since risen to $9.5bn (€8.5bn).

De Rivaz said planning of these two projects had been “flawed” and there had been “underestimation” of their costs but insisted EDF had learned lessons from these setbacks. “The assumptions made on cost and schedule were wrong, dead wrong. We have dramatically changed the approach by which we prepared this project.”

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