EDF has signalled a shift in the timeline for Hinkley Point C’s nuclear build, with the first reactor expected to start production in 2030, a year later than planned.
The project is absorbing a 12-month commissioning delay due to ongoing challenges with electromechanical work.
According to the company’s 2025 annual results, this slippage is linked to a €2.5bn (£2.1bn) “impairment” on the project, reflecting both the deferred schedule and a reduced strike price under the UK Contract for Difference mechanism.
In 2015 prices, the estimated project cost now stands at around £35bn, with a roughly £1bn uplift in cost attributed to a 12-month delay.
EDF’s latest results confirm civil progress on both units – including delivery of Unit 2’s reactor vessel – but underline electromechanical installation as the critical issue for Unit 1.
Wider financial and operational context
EDF reported a strong overall performance for 2025 with sales of €113.3bn (£99bn) and nuclear output in France at its highest in six years.
The group posted an €8.4bn net income (group share) and achieved positive operating cashflow of €9.6bn, including a £1.6bn payment “to Hinkley Point C for the project expertise and series effect that has benefited Sizewell C”. Net financial debt declined to €51.5bn (£45bn).
The Hinkley Point C figures were among the key non-recurring items that have impacted EDF’s 2025 earnings compared to prior year-end results.
EDF reaffirmed its focus on cost discipline and delivery across its nuclear programme, as well as expanding capacity in renewables and grid connections.
Commenting on the results, Bernard Fontana, EDF’s chairman and CEO, said: “Safety, security and health are the group’s priorities, to provide our customers with competitive, sovereign, low-carbon electricity.
“2025 was a year of sound operational and financial results. These results reflect all the action taken to raise operational performance sustainably, with nuclear output up, record levels of pumped-storage hydropower, and faster deployment of our new commercial policy.”
