2015 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: 2015 (data is from Sept 2014)
Category: Infrastructure - see all reports for this category
Description: The aim of Final Investment Decision (FID) Enabling for Hinkley Point C is to avert an investment hiatus in the deployment of low carbon electricity generation caused by the announced reform of the electricity market, in the period between the publication of the EMR White Paper and the full implementation of the EMR Contracts for Difference (CFD).
DCA (RAG): Exempt FOI
DCA text: Data exempt under Section 43(2) of the Freedom of Information Act (2000)
Start date: 2011-09-01
End date: 2015-04-30
Schedule text: Start date represents start of project following the EMR White Paper of July 2011. End date represents the expected conclusion of the project following award of contract and transition of contract management to the Counterparty body. End date estimated as being in 2015/16.
Baseline: £3.68m
Forecast: £6.61m
Variance: 79.50%
Variance text: Project costs relate to the project team and external technical, legal and financial advisers. In Q2 2014/15 an overspend was forecast against the 2014/15 budget due to changes to the project timetable. Additional budget was sought in DECC's mid year review.
Whole Life Cost: £14,470.33m
WLCost text: The whole life cost (WLC) includes the programme's costs under the Levy Control Framework (LCF), which sets annual limits on the overall costs of all DECC’s low carbon electricity levy-funded policies until 2020/21. These comprise the Renewables Obligation, small-scale Feed-in Tariffs and Contracts for Differences (including Investment Contracts). The annual cap in 2020/21 has been set at £7.6 billion, a level which will enable us to meet our low carbon and renewables ambitions. The overall costs of all DECC’s low carbon electricity levy-funded policies has not previously been included in the published WLC of this programme, and in this case accounts for £14,451.93m of the WLC. The remainder of the WLC is costs for the policy/delivery team. The WLC figure is calculated in nominal terms.
Notes1: Data exempt under Section 43(2) of the Freedom of Information Act (2000)
Notes2:
Sourcefile: IPA_2015.csv

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Acknowledgement: GMPP data has been re-used under the Open Government Licence.