Aller au contenu
EDF France
Accédez à tous les sites EDF depuis ce menu
EDF France

Return to home The EDF Group

  • Supporting our clients on a daily basis
  • Producing a climate-friendly energy
  • Taking action as a responsible company
  • Inventing the future of energy
  • Dedicated sections

    • Investors & Shareholders
    • Journalists
    • Applicants
    • Suppliers
    • Our scientific community
    • EDF Pulse

    Financial information at 30 September 2020

    Follow the Group's Financial information at 30 September 2020 - On Friday, November 13th 2020 from 9:00 am (Paris time).

    Subscription to the webcast
  • EDF at a glance

You are :

Residential
Businesses
Local authorities
EDF join us Join us
The EDF Group Discover our activities

Dedicated sections

  • Investors & Shareholders
  • Journalists
  • Applicants
  • Suppliers
  • Our scientific community
  • EDF Pulse

Financial information at 30 September 2020

Follow the Group's Financial information at 30 September 2020 - On Friday, November 13th 2020 from 9:00 am (Paris time).

Subscription to the webcast

Sites in France

  • Corsica
  • French Guiana
  • Guadeloupe
  • Martinique
  • Réunion
  • Saint-Pierre and Miquelon

Sites worldwide

  • Africa
  • Asia
  • Belgium
  • Germany
  • Inde
  • Italia
  • Middle East
  • North and South America
  • Russia
  • United Kingdom
  • FR
  • Press contact
  • Investors contact
Contact information
  • Account Residential
  • Account Businesses
  • Account Local authorities
  • Account Applicant
Go back
You are here :
  1. EDF.fr
  2. The EDF Group
  3. Dedicated sections
  4. Journalists
  5. All press releases
  6. Update on Hinkley Point C project
25 Sep 2019

Update on Hinkley Point C project

PDF 123.79 KB
  • Partager cette page par email
Nuclear
International

The Hinkley Point C project successfully delivered J-0, the completion of the nuclear island “common raft” for its first unit in June 2019, in line with the schedule announced in September 2016. 

Following this major milestone a detailed review of the project’s costs, schedule and organisation was performed.  The review has concluded that: 
- The next milestone of completing the common raft for Unit 2 in June 2020, which was announced earlier this year, is confirmed ;
- The previously communicated risk of COD delay of unit one and two (of 15 months and nine months respectively) has increased(1) 
- The project completion cost (2) is now estimated between £21.5bn and £22.5bn, an increase of £1.9bn to £2.9bn(3) compared to the previous estimate. The range depends on the effectiveness of action plans to be delivered in partnership with contractors. 

Cost increases reflect challenging ground conditions which made earthworks more expensive than anticipated, revised action plan targets and extra costs needed to implement the completed functional design, which has been adapted for a first-of-a-kind application in the UK context.

Under the terms of the Contract for Difference, there is no impact for UK consumers or taxpayers.  
 
EDF’s project rate of return for Hinkley Point C (IRR)(4) is now estimated between 7.6% and 7.8%.  
 
The management of the project remains mobilised to begin generating power from Unit 1 at the end of 2025. To achieve this, operational action plans overseen by the project management are being put in place. These involve the EDF Group's engineering teams in Great Britain and France, buildings and ancillary works contractors, and suppliers of equipment and systems throughout the supply chain. 


(1)  As previously communicated in July 2017, if this risk were to materialise, it would entail an additional cost of around £0.7bn in 2015 sterling. Under this assumption the IRR for EDF would be lower by 0.3%.
(2)  In 2015 sterling, excluding interim interest and excluding forex effect versus the reference exchange rate for the project of 1 sterling = 1.23 euro.
(3)  Additional costs net of action plans
(4)  EDF equity IRR calculated at the exchange rate 1 sterling = 1.15 euro and including the capped compensation mechanism in place between shareholders. 

Contacts

Analysts and investors

Phone: +33 (0) 1 40 42 40 38

Press Office

Phone: +33 (0) 1 40 42 46 37

service-de-presse@edf.fr

Back to top
EDF
  • Sitemap
  • Personal data
  • Cookies
  • Legal notices
  • Credits
  • Accessibility
  • Eco-conception

Energy is our future, save it !
©2021 EDF