December 8, 2012

Nuclear Power Cost Overruns

EDF, the French nuclear utility, has warned that the cost of its flagship next-generation atomic reactor in northern France has soared to €8.5 billion, raising fresh concerns about its plan to build a similar plant in the UK. 

EPR under construction in Finland

Originally scheduled to be completed this year for a cost of €3.3 billion, the European Pressurized Reactor (EPR) completion was delayed until 2016.

Similar cost overruns and completion delays have plagued Areva's EPR reactor under construction in Finland. Originally planned for operation in 2009, the Finnish reactor's start date has been extended to 2015, six years behind schedule.

Reuters and Bloomberg report estimates of the tariffs needed to make EDF's proposed reactors profitable at these installed costs range from $0.15 to $0.24 per kWh. (€0.12 to €0.19 per kWh)

EDF is the world's largest generator of nuclear powered electricity.
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