nuclear-news

Areva, TVO have month to settle nuclear reactor claims-minister http://af.reuters.com/article/commoditiesNews/idAFL8N154366 PARIS Jan 20 (Reuters)  French nuclear reactor maker Areva and Finnish customer Teollisuuden Voima (TVO) will try to settle mutual claims over a long-delayed nuclear reactor within a month, French Economy Minister Emmanuel Macron said on Wednesday.

“I had the chance at the start of the week to speak to (Finnish Economy Minister) Olli Rehn, and we gave ourselves a month to let the companies and shareholders find the conditions for an agreement or way out,” Macron said on the sidelines of a New Year event.

Finnish utility TVO and an Areva-led consortium with Siemens are claiming billions of euros from one another in an arbitration suit over cost overruns and delays to the EPR reactor Areva is building in Olkiluoto, in Finland, for TVO.

The unsettled claims are holding up a planned takeover of Areva’s reactor arm by French utility EDF, which does not want to be responsible for them.

TVO has a 2.6 billion euro ($2.8 billion) claim against the Areva-Siemens consortium at the International Chamber of Commerce’s (ICC) arbitration court, while Areva-Siemens have a 3.4 billion euro counter-claim.

While the French state – which owns 85 percent of EDF and 87 percent of Areva – has a big stake in a speedy resolution of the Olkiluoto claims, TVO is a private company and the Finnish government’s position so far has been not to intervene.

TVO’s owners include paper companies UPM and Stora Enso as well as utility Fortum. (Reporting by Michel Rose and Yann Le Guernigou; Writing by Geert De Clercq; Editing by James Regan and Susan Thomas)