28 April 2024
OCGTs over USD 20 billion cheaper than Hinkley Point – UK study
Publication date: 26 August 2016
Gas Strategies Group
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The UK could save over GBP 16 billion (USD 21 billion) if it scrapped the proposed 3.2 GW Hinkley Point nuclear project and built an equivalent capacity in open-cycle gas turbine (OCGT) power plants, a London-based think tank said in a report on Friday.
The Energy and Climate Intelligence Unit (ECIU) estimated it would cost around GBP 1.6 billion (USD 2.1 billion) to build 3.2 GW of gas-fired capacity across 6-10 OCGTs – an 91% discount to the Hinkley Point’s estimated cost of GBP 18 billion (USD 24 billion).