this post was submitted on 25 Jun 2023
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Or, now hear me out, people actually know the history of the most recent projects and are reacting based on information.
Olkiluoto-3 was supposed to cost €3B, and ended up being approximately €11B.
Flamanville-3 was supposed to cost €3.3B and will likely end up costing in excess of €20B.
Hinkley Point C was supposed to cost £16B, but will likely end up about £27B.
It's the same in the US:
V.C. Summer 2&3 was supposed to be $9B, but was cancelled while under construction, once total costs were projected to hit $23B.
Vogtle 3&4 was supposed to be $12B, but is currently in the $30B range.
These projects ended up being up to 12 years behind schedule. And that was in a low interest rate era. With higher interest rates, these kinds of schedule overruns will be devastating.
As it was, Framatom (Areva) and Électricité de France needed government bailouts and EdF is being re-nationalized by the French government due to the sad shape of its finances. Westinghouse ended up in creditor protection due to the fallout from the V.C. Summer project, and was sold off by parent company Toshiba.