The £18 billion Hinkley Point C project has overran it's budget and timescales, EDF has confirmed.

In a review statement today, 03 July, the developer revealed the scheme's cost has risen by £1.5bn to £19.6bn, while construction could be delayed by up to 15 months.

The multi-billion pound project involves building two nuclear EPR reactors in Somerset to provide 7% of the UK's future electricity needs.

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EDF said: "The milestone for the first nuclear safety concrete for the building of Unit 1, scheduled for mid-2019, is confirmed, assuming that the final design, which is on a tight schedule, is completed by the end of 2018.

"Project completion costs are now estimated at £19.6 billion in 2015 sterling, an increase of £ 1.5 billion in 2015 sterling, compared to previous evaluations. This estimate includes successful operational action plans, in partnership with suppliers.

"The estimated additional costs result mainly from a better understanding of the design adaptated to the requirements of the British regulators, the volume and sequencing of work on site and the gradual implementation of supplier contracts."

(LM)