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POWER: France Delays First New Nuclear Reactor Startup to 2038

POWER
BulletPower BulletsEnergy BulletsCommodities

France has delayed the startup target for its first new nuclear reactor to 2038, three years later than initially planned, as the government urges EdF to accelerate preparations and finalise cost estimates for the six-reactor project, the government said, cited by Bloomberg.

  • The delay is meant to ensure EdF is better prepared, as previous projects in France and the UK have faced cost overruns and delays, increasing EDF’s debt.
  • The decision comes after the president of France’s Court of Auditors noted in mid-January that the country is far from ready to start building its planned six new nuclear reactors – the EPR2 programme.
  • The cost for the new French reactors was last estimated at €67.4bn.
  • EdF planned to update the cost estimate by the end of 2024 but hasn’t done so yet according to Reuters.
  • The estimated cost for construction, excluding financing costs, has increased to almost €80bn when accounting for inflation, the Court of Auditors added.
  • Negotiations between EdF and the state over financing are expected to be finalised in "coming weeks", added the statement, before being sent to the European Commission for approval, according to Reuters.
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France has delayed the startup target for its first new nuclear reactor to 2038, three years later than initially planned, as the government urges EdF to accelerate preparations and finalise cost estimates for the six-reactor project, the government said, cited by Bloomberg.

  • The delay is meant to ensure EdF is better prepared, as previous projects in France and the UK have faced cost overruns and delays, increasing EDF’s debt.
  • The decision comes after the president of France’s Court of Auditors noted in mid-January that the country is far from ready to start building its planned six new nuclear reactors – the EPR2 programme.
  • The cost for the new French reactors was last estimated at €67.4bn.
  • EdF planned to update the cost estimate by the end of 2024 but hasn’t done so yet according to Reuters.
  • The estimated cost for construction, excluding financing costs, has increased to almost €80bn when accounting for inflation, the Court of Auditors added.
  • Negotiations between EdF and the state over financing are expected to be finalised in "coming weeks", added the statement, before being sent to the European Commission for approval, according to Reuters.