2017 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: BEIS (D1198) - see all reports for this organisation
Report year: 2017 (data is from Sept 2016)
Category: Infrastructure - see all reports for this category
Description: Primary objective is to agree a contract to enable the construction and operation of a new nuclear power plant that achieves a fair deal, represents good value for money, is affordable and is compatible with State aid rules. Secondary objective is to fully explore and understand the issues around a CfD for HPC and make a recommendation to ministers based on this.Procurement Policy on steel in major projects It doesn’t apply as DECC is not procuring HPC.
DCA (RAG): Green
DCA text: The Green DC RAG in September 2016 was reflective of the significant decisions taken in autumn 2016, since when the project to gain an investment decision has completed its final delivery, through to project closure in June 2017.
Start date: 2011-09-01
End date: 2016-09-30
Schedule text: Start date represents start of project following the EMR White Paper of July 2011. End date represents the conclusion of the project following award of contract and transition of contract management to the Counterparty body.
Baseline: £1.80m
Forecast: £1.70m
Variance: -6.00%
Variance text: Internal project resource required for 2017-18 has been marginally less than forcast at the start of the year.
Whole Life Cost: £49,891.20m
WLCost text: The Whole Life Costs (WLC) for this project are determined by the difference between the Strike Price for Hinkley Point C and the long-term Wholesale Electricity Price forecasts, which are influenced by market prices for fossil fuels. Therefore, we would expect the WLC to vary year on year to reflect changes in the market. Wholesale prices are volatile and sensitive to a number of uncertain factors including, for example, future global gas price trends, carbon prices, coal prices, the level of intermittent generators in the system and demand trends. Whereas the strike price agreed for Hinkley Point C is fixed and has been set following extensive negotiations with EDF and with advice from independent expert advisors. Hinkley Point C alone will generate 7% of reliable low carbon electricity for the UK; enough to power 6 million homes for 65 years.
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Sourcefile: IPA_2017.csv

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