Nuclear reactors will cost twice estimate, says E.ON chief [View All]

£4.8 billion UK pounds = $9.4 billion US dollars

http://business.timesonline.co.uk/tol/business/industry_sectors/utilities/article3872870.ece

May 5, 2008
Nuclear reactors will cost twice estimate, says E.ON chief
Robin Pagnamenta

The Government has vastly underestimated the cost of building a new generation of nuclear power plants, according to the head of the world's largest power company.

Wulf Bernotat, chairman and chief executive of E.ON, the German energy giant that owns Powergen, has told The Times that the cost per plant could be as high as €6 billion (£4.8 billion) - nearly double the Government's latest £2.8 billion estimate.

His figures indicate that the cost of replacing Britain's ten nuclear power stations could reach £48 billion, excluding the cost of decommissioning ageing reactors or dealing with nuclear waste. “We are talking easily about €5 billion to €6 billion ,” Dr Bernotat said.

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Dr Bernotat's estimates are based on E.ON's experience as a partner in the construction of a nuclear plant in Finland to a French design viewed as the most likely for deployment in Britain. He estimated the cost of that project at €4.5 billion.

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