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EDF Seeks Maryland’s Help for Unprofitable New Nuclear Reactor

Electricite de France SA’s plan to build a nuclear reactor in Maryland is unprofitable at current power prices, so the company is asking state officials for help, Chief Financial Officer Thomas Piquemal said.

The company may ask the state to buy power from the new reactor, approve contracts for utilities to buy the power or roll the construction costs into regulated electricity prices, Piquemal said in a telephone interview today. EDF, based in Paris, jointly owns two existing reactors at the Calvert Cliffs site in Maryland with Constellation Energy Group Inc.