nuclear-news

Despite massive losses of nuclear company EDF, and reactor corrosions, France plans to build a new fleet of EPR reactors.

Despite corrosion leaving nearly half of French atomic power fleet idle
last year and huge cost overruns at new construction, state-backed power
comapny insists on building even more reactors.

A plunge in nuclear power
output related mostly to inspections and repairs for stress corrosion that
left nearly half of France’s atomic generation fleet idled for much of last
year has cost EDF €29.1bn ($30.99bn), pushing the embattled state-owned
utility into a massive loss.

Forty-three of the company’s 56 reactors are
currently operational again, up from only 30 at the beginning of November
2022. But last year’s decline in nuclear output – which the company had to
compensate for with power purchases at a time when market prices were very
high – linked to the impact of price caps for French consumers last year,
triggered a loss in generation and supply segment earnings before interest,
taxes, depreciation and amortisation (Ebitda) of €23.14bn.

Gains in other
areas, such as regulated activities or renewables were not able to
compensate for the nuclear drain on finances. That was the main cause of a
€17.94bn net loss for the entire group, compared to a €5.11bn net
profit in 2021.

Despite the massive losses at EDF, as well as dozens of
billions in cost overruns and decade-long delays at the construction of a
new EPR (European Pressurised Reactor) at Flamanville, French President
Emmanuel Macron last year launched a programme to build six further EPRs in
France, with the option for eight more at later stage.

Recharge 17th Feb 2023

https://www.rechargenews.com/energy-transition/embattled-edf-stuck-with-30bn-bill-from-ailing-nuclear-fleet-as-utility-makes-massive-loss/2-1-1406062

February 20, 2023 - Posted by Christina Macpherson | France, politics