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UK’s flagship nuclear plant could cost up to $59 billion, developer says

A major nuclear plant that Britain’s government hopes will generate affordable, low-carbon energy could cost up to 46 billion pounds, or $59 billion, and the completion date could be delayed to after 2029.

The U.K. government says nuclear projects like the Hinkley Point C plant are a key part of its plans to ensure greater energy independence and achieve its “net zero” by 2050 strategy. “Like other infrastructure projects, we have found civil construction slower than we hoped and faced inflation, labor and material shortages — on top of Covid and Brexit disruption,” said Stuart Crooks, managing director of Hinkley Point C. Critics, including the U.K. government’s own climate advisers, say the U.K.'s support for new domestic oil and gas production and its slow pace in transitioning to green energy were undermining its “net zero” pledges.

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