2013 Report details for project: FID Enabling for Hinkley Point C

Project name: FID Enabling for Hinkley Point C - there are 5 reports for this project: 2013, 2014, 2015, 2016, 2017
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Organisation: DECC (D11) - see all reports for this organisation
Report year: 2013 (data is from Sept 2012)
Category: Infrastructure - see all reports for this category
Description: The Electricity Market Reform White Paper set out the Government’s commitment “to work actively with relevant parties to enable early investment decisions to progress to timetable wherever possible, including those required ahead of implementation of the Feed-in Tariff with Contracts for Difference (FiT CfD)”. The first developer to seek assurance through the FID Enabling project is New Nuclear Build Generation (NNBG), led by EDF, to build a new nuclear plant at Hinkley Point C. By providing an appropriate form of comfort in advance of the implementation of EMR reforms, we are likely to encourage final investment decisions to come forward that would otherwise have been delayed until all necessary legislation had been enacted and new institutional arrangements put in place; or possibly cancelled altogether. This supports the Government’s decarbonisation and security of supply objectives as well as stimulating investment which creates jobs and growth. For more information, see: https://www.gov.uk/government/policies/maintaining-uk-energy-security--2/supporting-pages/electricity-market-reform
DCA (RAG): Unknown
DCA text: TBC - commercial negotiations underway
Start date: 2011-09-01
End date: 2013-11-30
Schedule text: Start date represents start of project following the EMR White Paper of July 2011. End date represents the expected conclusion of negotiations.
Baseline: £11.60m
Forecast: £11.00m
Variance: -5.17%
Variance text: 12/13 budget represents cost of managing Investment Contract negotiation, including for expert advisers. The under-spend in 12/13 against the revised budget reflects that negotiation timelines / activities have continued to change in comparison to earlier expecations and the need for flexibility in accommodating external experts required to support the negotiations.
Whole Life Cost: £20.92m
WLCost text: Whole life cost figures represent the cost of managing the Investment Contract negotiation, including for advisers. They do not include the eventual public finance cost for the Investment Contract, which will come under the Levy Control Framework (LCF) as Annually Managed Expenditure (AME).
Notes1: FID Enabling
Sourcefile: DECC_2013.csv

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