The Hinkley Point nuclear project in western England was dealt another blow this week, after the UK National Audit Office (NAO) warned that the regulated power price agreed with project developer EDF could cost consumers five times more than originally estimated.
The NAO, which is tasked with scrutinising public spending, estimated that the GBP 92.50/MWh (USD 123.94/MWh) ‘strike price’ agreed between state officials and EDF in 2013 would cost UK energy consumers GBP 29.7 billion (USD 39.8 billion) over the 35-year lifespan of the deal, rather than the GBP 6.1 billion (USD 8.2 billion) forecasted in 2013.
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