EDF Is Ordered to Produce Nuclear Industry Action Plan
- Utility is given one month by France to prepare plan
- EDF must better coordinate with suppliers, watchdog: Le Maire
Photographer: Marlene Awaad/Bloomberg
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Electricite de France SA was given one month to present an action plan to restore faith in the French nuclear industry after a series of damaging delays, cost overruns and technical failings.
EDF is reeling from setbacks that have wiped more than a third from its share price in the past 12 months. Its flagship Flamanville reactor project in France is years behind schedule and way over budget, with signs that a similar project in the U.K. is also running into trouble. Revelations about substandard manufacturing of equipment at existing plants have further tarnished its reputation.