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EDF Cost Overrun at French Plant Piles Pressure on Nuclear Giant

  • Repairs at Flamanville reactor will lift cost to $13.6 billion
  • Plant won’t load nuclear fuel until end of 2022 at earliest
The Flamanville nuclear reactor.
The Flamanville nuclear reactor.Photographer: Marlene Awaad/Bloomberg
Updated on

Electricite de France SA said repairs of faulty welds at a nuclear plant under construction in western France will boost the project’s cost by 14% to 12.4 billion euros ($13.6 billion), adding further financial strain to the cash-strapped atomic power giant.

The latest budget hike at the Flamanville-3 reactor is yet another blow to the French state-controlled utility, which raised its cost estimate for two similar reactors it’s building in the U.K. just weeks ago. It also fuels doubts about nuclear’s future in France, where the government has been reluctant to approve new projects before Flamanville-3 is online.