At least €1.57 billion of the increased costs of the Princess Elisabeth Island project can be "directly linked to unilateral (technical) choices by Elia," according to reports by L’Echo, De Tijd, and De Standaard on Thursday.
The Energy Regulatory Commission (Creg) states that the surge in the project’s costs is not solely due to market conditions.
Creg estimates that €1.57 billion of the cost overrun is attributable to unilateral technical decisions made by Elia. This conclusion was drawn from an "executive summary" presented to federal deputies.
The report highlights the reasons behind the cost escalation of Elia’s flagship energy island project, which is now estimated to have risen from €2.2 billion to over €7.5 billion between 2021 and 2025.
While this summary provides a clear insight into Creg’s argument, according to L’Echo, it still withholds some key figures, including the exact amount of the total cost increase.
