Tuesday 15 October 2019

Ofgem proposes cutting costs of connecting Hinkley Point C to the grid

Ofgem has proposed cutting the costs of connecting Hinkley Point C to the grid.

The energy regulator has announced it plans to save consumers money by reducing National Grid Electricity Transmission’s (NGET) funding request to build the project's transmission links by £80 million.

This would see it grant NGET £637 million to put the link into place, compared to its initial request for £717 million - this is because it does not think pylon costs are justified.

It has noted NGET could seek additional funding to help reduce impacts from extreme weather or widespread flooding in the future.

French energy giant EDF recently said the cost of building the Hinkley Point C nuclear power plant could increase by up to £2.9 billion.