nuclear-news

French company EDF quite prepared to pull out of building Britain’s new nukes

 ” As far as I am concerned, negotiations can also fail,” Proglio told reporters on the sidelines of a debate about France’s energy policy

EDF SAYS “IN NO HURRY” FOR UK NUCLEAR PROJECTS PARIS Reuters April 19, 2013 – EDF chief executive officer Henri Proglio said on Thursday talks are continuing between the French utility and the British government about its nuclear projects in Britain but added that he was “in no hurry” to sign an agreement.

EDF and the British government are in negotiation about the price at
which the UK would buy electricity from nuclear plants to be built by
EDF.

“I am not in a hurry. We obtained an extension of the life span of
existing plants … As far as I am concerned, negotiations can also
fail,” Proglio told reporters on the sidelines of a debate about
France’s energy policy.

Last month, EDF won planning approval to build Britain’s first new
nuclear power station in almost 20 years but warned the project would
only move forward if both parties could agree a guaranteed minimum
“strike” price for the power produced.

EDF wants at least 100 pounds per megawatt-hour (MWh) while the
government would prefer a price around 80 pounds, according to
industry sources and analysts….EDF wants to build two reactors at an
estimated cost of 14 billion pounds, but wants assurances that it can
recoup its investment with a government guarantee to support energy
prices.

Stretched by high debt and the need to upgrade its ageing nuclear
fleet in France, the French utility can ill afford a miscalculation in
a major foreign investment.

In February British utility Centrica pulled out of its partnership
with EDF to build new nuclear power stations in Britain.

The withdrawal will force EDF to find a new partner, possibly Chinese,
but Proglio has repeatedly said that without a favourable strike price
no other companies would be interested in the project……
http://au.news.yahoo.com/latest/a/-/latest/16796247/edf-says-in-no-hurry-for-uk-nuclear-projects/

April 19, 2013 - Posted by Christina Macpherson | general