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Herausgeber: Internationales Wirtschaftsforum Regenerative Energien (IWR)

Hinkley Point C: Electricity from new British nuclear power plant costs over 15 cents per kilowatt hour

Electricity from new British nuclear power plant Hinkley Point C costs over 15 cents per kilowatt hour<br />
Electricity from new British nuclear power plant Hinkley Point C costs over 15 cents per kilowatt hour
Münster (renewablepress) - The construction of the new British nuclear power plant Hinkley Point C has been delayed and will be significantly more expensive than planned for the French nuclear power company EDF. But not only are the construction costs for the two new nuclear power plant units with a combined capacity of around 3,280 MW rising sharply, British electricity customers are now also facing considerable cost increases for the nuclear power generated on their electricity bills, according to Internationales Wirtschaftsforum Regenerative Energien (IWR) in Münster.

"The costs for the electricity generated from the new British nuclear power plant Hinkley Point C will be well over 15 ct/kWh at the planned start and thus far above the market electricity price," said IWR head Dr Norbert Allnoch in Münster. This is based on data from the British CFD register.

The British government agreed an initial guaranteed minimum strike price of £ 89.50 /MWh (10.3 ct/kWh) with the French manufacturer and builder of the nuclear power plants, EDF, for nuclear power from the new Hinley Point C nuclear power plant on the basis of the Contract for Difference (CfD) model. The initial minimum tariff of £89.50 /MWh (10.3 ct/kWh) is a starting price that increases with the British inflation rate. If the current market electricity price on the exchange is below the dynamically rising minimum tariff for nuclear power, British electricity customers will have to bear the difference in costs.

The latest data from the CFD register as of September 1, 2023 shows that the current minimum remuneration price (current strike price) has already risen to £128.09 /MWh (14.8 ct/kWh). This is a cost jump of over 43 percent, but there is currently no end in sight to the dynamic cost spiral for British nuclear power.

According to the CFD register, the first nuclear power plant unit (C 1) is scheduled to start up on June 1, 2027, followed by unit C2 on June 1, 2028. Assuming a British annual inflation rate of 3 percent and no further construction delays, the price of nuclear power generated from Hinkley Point C would already rise to 16.7 ct/kWh by the start date in 2027.

Conversion rate: 1 euro = 0.8668 pounds sterling on 21.12.2023

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Caption: Electricity from new British nuclear power plant Hinkley Point C costs over 15 cents per kilowatt hour

Caption: Extract from the CFD Register - Hinkley Point C
© Low Carbon Contracts Company Ltd.

Münster, 21 December 2023

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Media contact:

Internationales Wirtschaftsforum Regenerative Energien (IWR)
Dr. Norbert Allnoch
Phone: +49 (0)251 / 23 946–0
Fax: +49 (0)251 / 23 946-10
E-Mail: info@iwr-institut.de

Internationales Wirtschaftsforum Regenerative Energien (IWR)
Soester Str. 13
48155 Münster

Internet: https://www.iwr-institute.com


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About Internationales Wirtschaftsforum Regenerative Energien (IWR)

In 1996, the International Economic Platform for Renewable Energies (IWR) was established as an independent and private service institution of the renewable energy industry. The IWR focuses on the fields of research, economic and policy consultation as well as media and international networks in the renewable or regenerative energies sector. One main objective of the IWR is to play an instrumental role in introducing and spreading awareness for an industrial, international business profile of the renewable energy industry.
Dr. Norbert Allnoch, Director of the International Economic Platform of Renewable Energies (IWR), 1995, on the definition: "According to our definition, the Renewable Energy Industry is one which takes an interdisciplinary approach to the issue of renewable energy supply (protecting both the climate and resources) and the construction of renewable plants and systems (industry policy for the three areas electricity, heat and fuel."Chronology of the Renewable Energy Industry - Important IWR contributions, including prizes and awards - 2007 Publication of the first structural analysis for a federal state according to the IWR-analysis method for renewable systems engineering and services�(study "Zur Lage der regenerativen Energiewirtschaft in NRW" )2007 International network-contacts:IWR-director Dr. Allnoch speaks with King Harald V. of Norway and �slaug Haga, norwegian minister of energy Presentation of the network / RENIXX in the USA, dialogue with McGinty, environment minister of Pennsylvania2006 IWR starts renewable stock index RENIXX� (

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