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In Finland where I'm from the Olkiluoto III nuclear plant was delayed multiple times and ended up being 9th most expensive building in the world (excluding mili
by onnimonni 2y ago
In Finland where I'm from the Olkiluoto III nuclear plant was delayed multiple times and ended up being 9th most expensive building in the world (excluding military bases which we don't have public records):
https://en.m.wikipedia.org/wiki/List_of_most_expensive_buildings https://en.m.wikipedia.org/wiki/List_of_most_expensive_build...
I'm highly skeptical of the schedules and since it's so old equipment I would be very surprised if it will be in budget and start when scheduled. Anyway I hope it works out.
- chickenbig 2y agoIt is a good job the station's Finnish owner/operator, TVO, got it on a fixed price contract. That does not make coping with the delays in coming online any easier, but some consolation that someone else is footing the construction bill and enriching the local economy. This is, to some extent, the same as Hinkley Point C where EDF and CGN have got a long term strike price. I wait with interest to see how Sizewell C will be financed, be it the regulated asset base model or else a Contract For Difference. There is a good argument for cost-plus construction contracts provided the purchaser can financially cope with the risks. Risk transfer is never free!
- moogly 2y ago> someone else Indeed. That would be French taxpayers.
- chickenbig 2y agoEDF has only recently become fully state owned. Also the French state have recently amended the ARENH arrangement to get greater revenues (who knew selling options for 42 EUR/MWh was a bad idea). Greater losses and damages have been incurred by previous governments. https://www.world-nuclear-news.org/Articles/Agreement-on-post-ARENH-nuclear-electricity-pricin https://www.world-nuclear-news.org/Articles/Agreement-on-pos...