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French nuclear firm stuck, unable to sell nuclear reactors in USA

EDF Puts U.S. Nuclear Expansion Plans on Hold,  BloombergBy Tara Patel – Nov 16, 2010 Electricite de France the biggest operator of nuclear reactors, put on hold a plan to develop atomic plants in the U.S…. EDF is reviewing its business in the U.S. and supply contracts for developing a reactor, Thomas Piquemal, chief financial officer, said today on a conference call. “When we have a better visibility on the regulatory environment and price evolution, we will be in a better position to see whether we go ahead with U.S. projects.”

EDF agreed last month to pay about $249 million partly to buy out Constellation Energy Group Inc. from a venture to develop EPR reactors in the U.S., including one in Maryland. Slumping power prices has cut the value of three U.S. atomic plants that the two utilities own together and forecasts of sustained low prices prompted Constellation to withdraw from talks on a government loan guarantee for the Maryland reactor…..

November 17, 2010 - Posted by | business and costs, France | , , , , , , ,

1 Comment »

  1. Did you know the French are lobbying the US govt to change the law that does not allow foreign investors to own nuke plants?

    Yeah, they are!

    Thanks,

    Deb Dix

    Comment by Deb Dix | November 18, 2010 | Reply


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