The UK’s planned new nuclear power plants are unlikely to come online before 2020, two years past schedule due to higher security requirements, French bank Societe Generale has said in a research note.
EDF Energy, which plans to build Britain’s next nuclear plant, admits its schedule to start the plant in 2018 has slipped but has set no new date.
“One of the reasons for these expected delays is the increased degree of security required for construction and during operations… All of these will translate in higher risks and costs, and have jeopardized nuclear competitiveness,” analysts at the bank said.
The bank also forecast that the UK could face a deficit from 2016 as new plants fail to come online before old plants close. But the tightening of supply will be curbed by slow consumption growth, averaging only 0.7 per year to 2015 under normal weather conditions.
For more nuclear news click here