Hinkley C just got even more expensive

The cost of building a new nuclear power station at Hinkley Point in Somerset could rise by nearly £2 billion, piling more pressure on the over-stretched finances of the French energy giant EDF, according to a report seen by The Times.

An independent analysis of the £18 billion project claims that Areva, the French company that developed the EPR reactor earmarked for Hinkley, is repricing the technology before a final investment decision, which it expects to be signed by EDF and its Chinese partners in May.

(article behind paywall)

No doubt in the repricing, there will be attempts to offload the costs elsewhere.

The next French presidential election is due in May 2017. How on earth is Hollande going to explain this away to his successor?