nuclear-news

Mon Dieu, Electricite de France is supposed to pay for nuclear waste storage

Under French law, EDF has to build a portfolio of assets to enable it to pay for the decommissioning of France’s 58 nuclear reactors and radioactive waste storage…EDF was supposed to have set aside enough money by the end of June 2011 for decommissioning of all of its nuclear assets and waste storage. A planned power law gave the utility a five- year extension on the deadline to June 2016.

EDF Puts 50% of RTE Grid Operator into Dedicated Fund for Nuclear Charges – Bloomberg, By Tara Patel – Jan 3, 2011 Electricite de France said it will improve its debt ratio with the transfer of half the French power grid Reseau de Transport d’Electricite into a fund that will cover costs for dismantling nuclear reactors………

Under French law, EDF has to build a portfolio of assets to enable it to pay for the decommissioning of France’s 58 nuclear reactors and radioactive waste storage. At the end of June, EDF’s investments in the dedicated assets were 12.4 billion euros ($16.5 billion), according to the statement.

The transfer of 50 percent of RTE shares to the fund will save EDF from having to put in 2.3 billion euros by 2016, according to the statement.

EDF was supposed to have set aside enough money by the end of June 2011 for decommissioning of all of its nuclear assets and waste storage. A planned power law gave the utility a five- year extension on the deadline to June 2016.

The government changed rules governing the fund’s assets Dec. 29 and increased the number of seats it holds on RTE’s supervisory board to four, meaning EDF no longer holds a majority, according to the statement……..

EDF Puts 50% of RTE Grid Operator into Dedicated Fund for Nuclear Charges – Bloomberg

January 4, 2011 - Posted by Christina Macpherson | France, wastes