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U.K. Nuclear Future Relies on Reactor Plagued by Delays: Energy

To ensure the future of its nuclear power industry, the U.K. is relying on an unproven reactor design plagued by delays and billions in budget overruns.

The government’s deal yesterday with Electricite de France SA to build a $26 billion plant at Hinkley Point in England involves two European Pressurized Reactors. The first EPR project in Finland, led by Areva SA, the French company that designed the technology, is seven years behind schedule and won’t be completed until 2016. The second, an EDF project at Flamanville in northwest France, will cost more than twice as much as expected.