nuclear-news

France considers tapping public interest savings accounts for nuclear reactor funding

Critics of the potential UK funding model have warned, however, that consumers could be left exposed if construction of the plants takes longer than anticipated or goes well over budget, as has happened frequently with European nuclear projects.

France is considering using funds from depositors in a centuries-old
savings account to finance part of a €50bn plan to build six nuclear
reactors, one of the world’s most ambitious energy programmes.

Putting together financing for nuclear projects is challenging because of the high
costs that weigh on state balance sheets and the wariness of private
investors of the decades-long construction periods and safety risks.

As a result, state-owned nuclear operator EDF and the French government are
considering tapping into the resources provided by the popular “Livret
A” savings account, two people familiar with the discussions said on
Thursday.

With about €370bn in deposits, Livret A funds are deployed by
the Caisse des Dépôts et Consignations (CDC), a state-linked bank that
carries out projects in the public interest, such as building social
housing. The popularity of Livret A means the CDC has additional funds to
invest and its head Eric Lombard has said it should play a bigger role in
financing the green transition.

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https://www.ft.com/content/7311cbdd-f245-43ff-92a3-9b763959a2db

Critics of the potential UK funding model have warned, however, that consumers could be left exposed if construction of the plants takes longer than anticipated or goes well over budget, as has happened frequently with European nuclear projects.

France 9th Feb 2023

https://www.ft.com/content/7311cbdd-f245-43ff-92a3-9b763959a2db

February 11, 2023 - Posted by Christina Macpherson | Uncategorized