French Mastery of Nuclear Power at Stake in U.K. Reactor Project
- EDF faces dilemma of whether to proceed with $26 billion plant
- Unions argue for a delay because company's future is `at risk'
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Electricite de France SA, the world’s largest operator of nuclear power plants, is stuck in a multibillion-dollar quandary that will shape its future.
Going ahead with new EPR atomic plants in the U.K. would strain the limits of its balance sheet as slumping electricity prices across Europe reduce cash flow. Dropping the Hinkley Point venture in southwest England would further damage the image of a new French-designed reactor, already tarnished by delays and cost overruns at projects elsewhere.