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Spiralling costs threaten nuclear industry – France, UK, Bulgaria

A particular concern is the specter of spiraling costs at a high-profile project at Olkiluoto in Finland, where Areva, a French nuclear reactor builder, agreed in 2005 to build a next-generation plant, called E.P.R.

New Warnings About Costs of Nuclear Power in Bulgaria and Britain – NYTimes.com August 31, 2010, By JAMES KANTER As anticipation grows about a possible renaissance for the nuclear power industry — and about its potential for curbing greenhouse gas emissions — some politicians are stepping up warnings about the high cost of such projects.

Last week, Traicho Traikov, the Bulgarian economy and energy minister, said the cost of building a second plant near the Danube River had reached 9 billion euros, or $11.4 billion, according to the Sofia News Agency.

The original cost of the project for two reactors was expected to be just under $4 billion…………

many experts warn that new nuclear projects are simply too large without resorting to subsidies from governments.

A particular concern is the specter of spiraling costs at a high-profile project at Olkiluoto in Finland, where Areva, a French nuclear reactor builder, agreed in 2005 to build a next-generation plant, called E.P.R., by 2009, for about 3 billion euros.

But costs have nearly doubled, and the project is not expected to come online until the end of 2012, partly because of bitter disagreements between Areva and its the customer, Teollisuuden Voima Oyj, a Finnish utility.

New Warnings About Costs of Nuclear Power in Bulgaria and Britain – NYTimes.com

September 1, 2010 - Posted by Christina Macpherson | business and costs, EUROPE | antinuclear, AREVA, EDF, nuclear, nuclear costs, nuclear renaissance, nuclear spin, nuclear wastes, reactors