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France’s dubious dream of global nuclear power empire

France’s recent nuclear record is so ragged, it may struggle to win orders whatever the ownership structure. A new generation nuclear-power station being build by French state-owned reactor maker Areva in Finland is years behind schedule and nearly 80% over budget. A new EDF plant in France using the same Areva technology is also behind schedule……

France’s Tricky Nuclear Fusion, – WSJ.com, Matthew Curtin, AUGUST 3, 2010 “…..President Nicolas Sarkozy wants to create a French nuclear powerhouse. France believes 250 nuclear power stations will be built worldwide over the next 20 years, requiring total investment of $1 trillion or more. But dominating this market may be harder than Mr. Sarkozy thinks.

Sure, France starts from a position of strength in nuclear. Electricité de France, 85% owned by the French state, is the world’s largest operator of nuclear power stations. Its fleet of 58 nuclear plants generate around 80% of French electricity. Meanwhile, Areva is a leading provider of nuclear technology. Mr. Sarkozy wants the two companies to form a strategic partnership, with EDF increasing its 2.4% stake in Areva.

But this could create more problems than it solves. Foreign utilities may be reluctant to buy Areva’s technology if EDF, a competitor, has a much bigger share of the proceeds. Areva reckons 80% of demand will come from utilities with their own nuclear plant. They may just want new technology, not EDF’s expertise as an operator.

What’s more, France’s recent nuclear record is so ragged, it may struggle to win orders whatever the ownership structure. A new generation nuclear-power station being build by French state-owned reactor maker Areva in Finland is years behind schedule and nearly 80% over budget. A new EDF plant in France using the same Areva technology is also behind schedule……

Another snag: Areva’s flagship product, the European Pressurized Reactor which it is building in Finland and tried to sell to Abu Dhabi, is complex, expensive and too big for some customers. Heard on the Street: France’s Tricky Nuclear Fusion – WSJ.com

August 4, 2010 - Posted by Christina Macpherson | business and costs, France | antinuclear, AREVA, nuclear, nuclear costs, reactors