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An earlier proposal for a Hinkley Point C power station was made by the Central Electricity Generating Board (CEGB) in the 1980s for a sister power station to Sizewell B, using the same pressurised water reactor design, at a cost of £1.7 billion.
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The new power station would see Hinkley's contribution to the country's power supply rise to 7%. [12] At the time of the planning consent, the price for electric energy on the wholesale market was around £45 per megawatt-hour while the new power plant was expected to need earnings of £90 per megawatt-hour in order to break even.
The revised operating date for the nuclear power station is now June 2027 and the budget has increased to £25 billion as Covid delays are blamed. Hinkley Point C delayed by a year as cost goes up ...
“As confirmed in November 2020, Hinkley Point B nuclear power station will stop generating and move into the defueling phase by August 1 2022,” they said.
Separately, the Government also awarded a CfD to Hinkley Point C nuclear power station, set at £92.50/MWh for a 35 year period. [8] This is 20 years longer than other CfD contracts. See §Cost to consumers of the Hinkley Point C article for further discussion on the costs.
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Because of the cost of remedying these problems, and with no guarantees of a timely solution, Magnox announced on 23 May 2000 that Hinkley Point A would be shut down. [23] Hinkley Point A was one of 11 Magnox nuclear power stations commissioned in the United Kingdom between 1956 and 1971.
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