3 ms·
The budget overruns are predictable. To the point where you can confidently predict that neither year nor the budget will stay as they are currently predicting.
by jillesvangurp 2y ago
The budget overruns are predictable. To the point where you can confidently predict that neither year nor the budget will stay as they are currently predicting. Honestly, it sounds more like wishful thinking at this point. I would say late 2030s at probably > 40 billion is realistic. They'll find a way to make it worse. Maybe they'll get lucky and only overrun only a few billion. Every year it overruns will cost billions.
The reasons listed in the article dance around the real underlying reasons and causes which relate to nuclear plants being a once in a generation kind of thing at this point. Most of the people executing these projects are on their first nuclear project. And they have to re-learn a lot of the things that make these projects complicated. There is no learning effect between projects. And in so far there is, it seems to be a negative one. And by the time they are done, there's a new generation that needs to build the next one.
The timescale doesn't help either because lots of things change and assumptions get broken. For example the relationship with China looks a lot less cozy than it did ten years ago. And that might change substantially again in the next ten. So them being a major partner in this project complicates things. In the same way, the relationship with Russia changed so relying on them for supplying the fuel rods might not be as good as an idea as it was back when Finland started planning its plant (the predecessor to this one). It's hard to predict these things on a multi decade scale. So, we're talking major changes with suppliers, project participants, and probably technology as well. And the competition.
The reason renewables are running circles around everything else is because planning cycles are short (<1-2 years), knowledge isn't lost in between projects, and consequently these projects are fairly predictable in terms of budgets and generally low risk. There's still some risk but most of that is bureaucracy. And it gets better with each project because of learning effects. Once you've done 100 wind mills, doing a 1000 more is going to be a lot easier.
Hinkley point C is about 3.4 GW of energy. Not nothing. But the UK has added a multitude in wind and solar since planning started and will add another multitude of energy by its completion (whenever that is). It's not even going to be close. Coal had a major market share when planning started (more than nuclear). The last coal plant in the UK closed last month. By the time this nuclear plant opens that will be ancient history and most of the grid in the UK will be wind, solar, batteries, imported power from abroad (cables), and a few gas plants. The good news would be getting rid of those remaining gas plants.
- matt-p 2y agoIndeed, we may as well finish it, certainly, but it's going to reduce appetite for future nuclear schemes enormously. Realistically I think small reactors are our last hope for net new nuclear in the UK - if we don't get them we'll end up with Wind/Solar and storage.
- chickenbig 2y ago> I think small reactors are our last hope for net new nuclear Sizewell C appears to be moving along; nevertheless Ed Milliband has not vocally supported the project (despite the junior minister Lord Hunt visiting the site last month and Keir Stamer visiting last year). What is most curious is that the announcement of up to £5.5B of extra funding (taking funding up to £8B so perhaps 1/3 of final project cost) until the final investment decision was not performed by a minister; usually this level of investment would merit a great fanfare. https://www.sizewellc.com/news-views/keir-starmer-hpc-visit-june-2023/ https://www.sizewellc.com/news-views/keir-starmer-hpc-visit-... https://www.parallelparliament.co.uk/lord/lord-hunt-of-kings-heath/debate/2024-07-18/lords/lords-chamber/kings-speech https://www.parallelparliament.co.uk/lord/lord-hunt-of-kings... We will seek to extend the lifetime of existing nuclear power plants while supporting the completion of new sites, such as Sizewell C. https://www.newcivilengineer.com/latest/sizewell-c-to-receive-up-to-a-further-5-5bn-of-taxpayer-cash-02-09-2024/ https://www.newcivilengineer.com/latest/sizewell-c-to-receiv... Sizewell C joint managing directors Julia Pyke and Nigel Cann said the Devex Scheme is “significant support from the government and it further strengthens the position of this project, which is now full steam ahead”.
- matt-p 2y agoI guess we have to wait and see.
- DrBazza 2y agoImported power is interesting as when the wind doesn’t blow or the sun doesn’t shine for us, it’s the same for other countries bordering the North Sea. So if they’ve gone green we’re all looking for electricity on those days and it’s expensive. And the reverse. On the days when we have too much wind and too much electricity prices drop to zero because we can’t export it for the same reason.