Part 5/8:
Initial confidence in the project quickly waned as challenges mounted. Construction has progressed significantly slower than anticipated, with completion dates stretching from an originally projected 2025 to estimates of 2029 for the first reactor and 2031 for full operational capacity. Cost overruns have further complicated matters, with projections soaring from £18 billion to potentially as high as £46 billion due to inflation and project delays.
Factors contributing to these cost escalations include labor shortages, material shortages, and the impact of COVID-19. Additionally, the project has faced more than 7,000 regulatory changes, which have added to the complexity.